Credit unions from across the world are celebrating the International Credit Union Day today, which is also a means to showcase the achievements of the movements.
The International Credit Union Day was launched in 1948 and has been celebrated every year since. The theme of this year’s International Credit Union Day is Local Service, Global Good, with the aim of highlighting the contribution credit unions make to their local communities.
The International Credit Union Day was first celebrated in 1948. 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 “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.”
In the UK a number of events will be marking the International Credit Union Day. The All-Party Parliamentary Group on Credit Unions is hosting a reception at HM Treasury, which features Government deputy chief whip in the House of Lords, Lord Newby and by Paulino Rodrigues, Chief Operating Officer of Sicredi, who will talk 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.
The Duchess of Cornwall, who is a member of a credit union, is also hosting a reception at her London residence to raise awareness of credit unions. The event will bring together representatives from business, banking and politics and credit unions members as well as celebrities supporting credit unions, including singer-songwriter, Imelda May; and television presenters, Eamonn Holmes, Ruth Langsford; and MoneySavingExpert, Martin Lewis.
To celebrate the day, some credit unions are also offering various promotions this week. Blues and Twos Credit Union in Hutton is running an “Introduce a friend/colleague’ promotion, giving £10 to both he new member and the member referring them. Another credit union celebrating the International Credit Union Day is the Co-operative Credit Unions, which will make a donation to charity for every new member joining this week.