MADISON, Wis.–It’s International Credit Union Week, with International Credit Union Day set for Thursday, Oct. 20.
Credit unions from around the world will be celebrating and marking the occasion in numerous ways; CUToday.info will have ongoing updates, including expanded coverage of financial news from around the country.
The theme for this year’s annual event, taking place on October 20, is “Empower Your Financial Future with a Credit Union.”
International Credit Union Day goes all the way back to 1948, when CUNA declared the day would be used to highlight the history of credit unions and their achievements, and to raise awareness of the credit union movement around the world.
What are considered to be the first credit unions in the world were established in the mid-1860s in Southern Germany by Friedrich Raiffeisen, a cooperative pioneer, who believed that by pooling monetary resources together between groups of people, they could enjoy an enhanced standard of living.
Credit unions came to the United States from Canada in 1909 when St. Mary’s Bank was chartered in Manchester, N.H., to serve French-speaking mill workers. Today, America’s Credit Union Museum is housed in the building that served as the first office for a credit union.
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