International Credit Union Day
International Credit Union Day has been celebrated on the third Thursday of October since 1948 and is designed to create awareness and celebrate the ways credit unions improve the lives of their members around the world.
It is the one day a year the entire movement takes the time to tell their members and communities about credit unions and when people learn what a credit union is and how it works—not-for-profit, lets them keep more of their money—they tend to like it.
What makes credit unions unique?
Equal Ownership – Credit unions are democratically controlled and member-owned and member-operated. Each member has equal ownership and one vote regardless of how much money he or she has in savings.
Not for Profit – Credit unions are not-for-profit financial cooperatives that provide a safe, convenient place for members to save money and access loans and other financial services at reasonable rates.
Social Purpose: People Helping People – Credit unions exist to serve their members, not to make a profit. Every member counts, including those of modest means. This “people-first” philosophy impels credit unions and their employees to get involved in their community and support worthwhile causes.
Volunteer Leadership – Each credit union is governed by a volunteer board of directors elected by and from the credit union’s membership.
Financial Education for Members – Credit unions place particular importance on educational opportunities for their members and the public to help everyone become better-educated consumers of financial services.
Trust – Lately credit unions have received positive press for being trustworthy and resilient institutions during a tumultuous time. Credit union members worldwide can be proud of these accomplishments and rest assured that their money is safe at the credit union.
Community is in our name and we are committed to supporting causes and events that enhance the quality of life for our communities. Check out the OCCU Community page for more information on the many different ways OCCU and our staff are making an impact locally.
Click here to learn more about the global efforts made by credit unions worldwide.
