MADISON, Wis.–The planet’s 89,000 credit unions have something in common today: they are celebrating International Credit Union Day.
The celebration comes as the planet's credit unions have just surpassed the 260-million threshold in total CU membership, according to the World Council of Credit Unions.
Today also marks an anniversary for International CU Day: its 70th, although the idea for a day to celebrate credit unions goes back even further in the U.S. On Jan. 17, 1927, the Credit Union League of Massachusetts celebrated the first official holiday for credit union members and workers, a date selected because it was the birthday of America's "Apostle of Thrift," Benjamin Franklin, who early credit union founders believed symbolized "the life and teaching embodied in the spirit and purpose of credit unions."
The Jan. 17 event eventually lost traction, however, and in 1948 the still relatively new Credit Union National Association joined with CUNA Mutual Group to launch a new national day of celebration, choosing the third Thursday of October as the day of observance.
“By then, many more of America's credit union leaders believed there was a need for an occasion that would bring people together to reflect upon credit union history and achievements and to promote the credit union idea across the country,” said the World Council of Credit Unions in its history of International Credit Union Day. “Credit unions, state credit union leagues in the United States and many of the informal credit union chapters in each state were encouraged to celebrate the new holiday in some way. It was to be a time for raising funds for movement causes and to pay homage to the men and women who had dedicated their lives to credit union development.”
Find Your Platinum Lining
Now, as International Credit Union Day marks its platinum anniversary with the theme “Find Your Platinum Lining in Credit Unions,” some 260 million people in 117 countries around the world claim CU membership, approximately half of whom belong to CUs in the United States. The World Council of Credit Unions itself was created in 1971, and now includes among its membership viable credit union movements in countries across the globe. WOCCU reported it created its first International Credit Union Day materials more than 30 years ago.
Harland Clarke, a provider of omni-channel, member engagement solutions, is the exclusive sponsor of International Credit Union Day.
Financial cooperatives, which trace their roots to a variety of early models that began in Europe, have numerous activities planned for today, some of which have been taking place throughout October.
Some of the International Credit Union Day activities include:
Support. Serve. Share.
The Worldwide Foundation for Credit Unions, the charitable arm of the World Council of Credit Unions, has been urging credit unions everywhere to expand the footprint of their efforts to improve member’s lives at home and abroad through a new initiative: the 2018 ICU Day Challenge. “Support. Serve. Share. is the Foundation’s call to action that any credit union or individual can take on to address the 12 key development issues that may hinder the financial prosperity of millions of members worldwide, regardless where they call home,” the Foundation said.
By “Support,” the Worldwide Foundation is seeking to raise $70,000 across the movement to grow the footprint of international development through digital financial inclusion, ag. lending, leadership development and other programs.
By “Serve,” the Foundation has called on credit unions to go into their communities and contribute more than 7,000 hours of volunteerism to charities whose mission are to address one or several of these development issues that are affecting member's lives.
By “Share,” the Foundation said it is seeking to showcase the power of the credit union movement by sharing financial support, volunteerism, and celebrations through the World Council and your credit union’s social media platforms. The goal is 700 posts, tweets, and shares by using #ICUDAY and #PLATINUMLININGFOUND and World Council’s handle @WOCCU.
Mugshot Challenge
The Foundation is encouraging people to ditch by their usual stop at the local coffee shop and taking the Mugshot Challenge, where people are challenged to donate the price of a cup of coffee/tea to the Worldwide Foundation and take a selfie with their homemade beverage to highlight their good work. The challenge is fully online, and donations can be made at woccu.org/give.
Out to Lunch–Locally
Earlier this week, credit unions across the U.S. and at least one in Canada participated in CU Lunch Local, in which credit unions were encouraged to take their employees to lunch at local establishments—or just treat them to coffee or snacks. CU Lunch Local was sponsored by Michigan Business Connection.
Cookies & Gift Cards
Fox Communities Credit Union in Wisconsin said it is celebrating throughout the week, offering members a chance to win a $100 Visa gift card, enjoy coloring pages, have free cookies.
Helping End Hunger
The Maine Credit Union League this week is spotlighting itsCampaign for Ending Hunger and the work credit unions are doing in their communities, both to raise awareness of credit unions’ People Helping People philosophy and to boost contributions to its campaign. It has placed half-page ads in newspapers across the state blanketed the state with radio and digital ads over a two-week period. All radio, digital, and social media marketing during those two weeks will focus on the Ending Hunger campaign. Since 1990, Maine’s credit unions have raised $8,000,000 to help fight hunger in the state.
CUs Doing Social Good
The Credit Union Association of the Dakotas said its CU Social Goodinitiative has been collecting and sharing the stories of charitable donations, scholarships, financial literacy education, and volunteerism, since 2013. To date, in 2018, CUAD said it has already collected stories that add up to more than $11 million in community impact, plus nearly 25,000 volunteer hours.
“These stories have ranged from incredible tales of volunteering at Habitat for Humanity to supporting the Relay for Life, from saving abandoned pets to collecting and distributing needed school supplies, from providing free workshops for first-time home buyers to stocking local food pantries, from awarding generous educational scholarships to providing backpacks of food for hungry kids, and from cleaning up local parks to raising money for Children’s Miracle Network Hospitals,” the CUAD said. “There are even heart-warming stories about credit unions providing loans for consumers when they haven’t been able to get financing from other financial institutions.”
Participants in CU Social Good sponsors include Nebraska Credit Union League, Tennessee Credit Union League, the Wisconsin Credit Union League, Illinois Credit Union League, Heartland Credit Union Association, American Association of Credit Union Leagues, Association of Vermont Credit Unions, Minnesota Credit Union Network, Mississippi Credit Union Association, and Montana’s Credit Unions.
A Peach of a Proclamation
In Georgia, home to 2.13 million CU members, Gov. Nathan Deal has proclaimed Credit Union Day in the state today.
“Credit unions have implemented the idea that consumers, including individuals with middle-class aspirations, should have access to a trusted financial partner that operates with their best interests in mind,” Deal said in the proclamation.
The Georgia CU Affiliates said that in the 12-month period ending in June, the state’s credit unions provided $231.4 million in direct financial benefit to their members, the equivalent to $109 for each member, or $229 per household.