Celebrating the Credit Union Movement's Global Impact on International Credit Union Day

On October 17, 2024, credit unions across the world came together to commemorate International Credit Union Day, an annual event that recognizes the credit union movement's remarkable achievements and its profound impact on communities worldwide. This year's celebration, held under the theme "One World Through Cooperative Finance," marked the 76th anniversary of this significant occasion.

Uniting the Global Credit Union Community in a Shared Vision of Financial Empowerment

Honoring the Credit Union Difference

The International Credit Union Day celebration in San Diego was a testament to the credit union movement's unwavering commitment to serving its members and communities. North Island Credit Union, a division of California Credit Union, hosted a special event at its newest retail location in Escondido, where credit union members, fellow San Diego credit unions, and local elected officials gathered to recognize the remarkable contributions that credit unions have made.During the celebration, proclamations were presented by Senator Brian W. Jones, Senate Minority Leader and representative of California's 40th Senate District, the office of Representative Darrell Issa, U.S. Congressman for California's 48th Congressional District, and Escondido Mayor Dane White. These proclamations commended the credit unions' invaluable contributions to San Diego's communities and expressed deep appreciation for their unwavering service and commitment."We were honored to host our fellow San Diego credit unions and many special guests on International Credit Union Day to recognize the contributions that credit unions make every day in the lives of their members and communities worldwide," said North Island Credit Union President/CEO Steve O'Connell. "Together, we are united in our cooperative philosophy of putting people before profits and providing access to affordable financial services for every community member."

Celebrating the Credit Union Movement's Global Reach

Since its inception in 1948, International Credit Union Day has been celebrated annually on the third Thursday of October, providing a platform to acknowledge the credit union movement's proud history and promote awareness of the credit union and financial cooperative difference.Credit unions are not-for-profit financial cooperatives that offer an effective and viable alternative to for-profit financial institutions. With over 403 million members in 98 countries worldwide, credit unions are a force for positive economic and social change, providing a wide range of financial services tailored to the needs of their members.The global credit union community is represented by the World Council of Credit Unions, the international trade association and development platform for credit unions and other financial cooperatives. This organization, along with numerous national credit union trade associations and federations around the world, plays a crucial role in organizing and promoting International Credit Union Day.

Fostering Financial Inclusion and Community Empowerment

Credit unions are not merely financial institutions; they are pillars of their local communities, dedicated to empowering individuals and families through accessible and inclusive financial services. By prioritizing people over profits, credit unions have become a beacon of hope for underserved communities, offering a range of products and services designed to build financial stability and promote economic growth.One such example is California Credit Union's certification as a Community Development Financial Institution (CDFI) with a Low Income Designation. This designation allows the credit union to offer inclusive products and services, including a checking account that meets the Bank On National Account Standards, ensuring that every community member has access to essential financial tools."Together, we are united in our cooperative philosophy of putting people before profits and providing access to affordable financial services for every community member," said North Island Credit Union President/CEO Steve O'Connell. This commitment to financial inclusion and community empowerment is at the heart of the credit union movement, and it was on full display during the International Credit Union Day celebration in San Diego.

Fostering a Cooperative Spirit and Collaborative Partnerships

The International Credit Union Day celebration in San Diego was not just a recognition of the credit union movement's achievements; it was also a testament to the power of collaboration and the cooperative spirit that unites credit unions worldwide.The event brought together representatives from various San Diego credit unions, including Mission Federal Credit Union, California Coast Credit Union, Wheelhouse Credit Union, East County Schools Federal Credit Union, and San Diego County Credit Union. These credit union leaders came together to celebrate their shared values, exchange ideas, and explore opportunities for further collaboration."Together, we are united in our cooperative philosophy of putting people before profits and providing access to affordable financial services for every community member," said North Island Credit Union President/CEO Steve O'Connell. This sentiment echoed throughout the event, underscoring the credit union movement's commitment to fostering a collaborative and inclusive financial ecosystem.By coming together to celebrate International Credit Union Day, these credit unions demonstrated the power of the cooperative model and the transformative impact that can be achieved when financial institutions prioritize the needs of their members and communities over profits. This collaborative spirit is a driving force behind the credit union movement's global success and its continued ability to empower individuals and communities worldwide.