This year’s International Credit Union Day was an opportunity for the credit union movement to highlight the contributions it makes to local communities. The day is celebrated annually since 1948 on the third Thursday of October, which fell on the 16th of the month this year.
Themed Local Service, Global Good, the day was marked by credit unions from across the world. In a video message addressed to credit unions and their members, Brian Branch, chief executive of the World Council of Credit Unions said that “for over 65 years the third Thursday in October has recognised credit unions for improving their communities and members’ lives around the world.”
He added that this year’s theme had a powerful meaning. “No matter the language, this message speaks to our 57,000 credit unions in 103 countries and their common mission to financially empower 208 million members,” said Brian Branch.
Throughout the day, credit unions chose different ways to showcase their co-operative difference. In the USA some credit co-operatives marked the day by offering various promotions to members. Some have also joined a fundraising programme called Shop for Miracles, which supports Children’s Miracle Network Hospitals through donations made by credit unions each time a member used their credit or debit cards.
In the UK an All-Party Parliamentary Group on Credit Unions hosted a reception at HM Treasury, which featured Government deputy chief whip in the House of Lords, Lord Newby and by Paulino Rodrigues, Chief Operating Officer of Sicredi, who talked about the development of Brazil’s credit union system. Credit unions in the Britain serve over 1.1m members, with £1bn in savings and £670m lending.
Some UK credit unions have also offered various promotions during the week to promote the International Credit Union Day. Blues and Twos Credit Union in Hutton ran an “Introduce a friend/colleague’ promotion, giving £10 to both he new member and the member referring them while the Co-operative Credit Unions, which made a donation to charity for every new member joining during the week.
The National Association of Credit and Savings Co-operatives of Haiti (ANACAPH) also celebrated the International Credit Union Day by hosting a conference focused on the role of the sector in achieving sustainable development. The aim of the event was to facilitate engagement between local actors and credit unions to promote sustainable development. The conference was followed by a series of debates across the country.
In Canada the International Credit Union Day coincided with Co-operation Week. To mark the day, the prime minister of Canada, Stephen Harper, sent a message to credit union leaders. He said: “Since its beginnings in 1900, when the first caisse populaire was established in Lévis, Québec, the Canadian credit union movement has been committed to advancing the financial wellbeing of its members while giving back to the community. These principles of solidarity and social development are present today in the thousands of credit union and caisse populaire branches that provide financial services to over ten million Canadians across the country.”
As part of the Co-op Week the Credit Union Central of Manitoba shared the results of a survey it conducts on an annual basis. The research, which looks at the state of the credit union sector in Canada, shows that credit unions contribute more than CAD $49m to the local communities.
The International Credit Union Day enabled credit unions for all over the world to showcase their co-operative difference via social media, by using the hashtag #ICUDay.
