Credit Unions Build a Better World: International Credit Union Day, Thursday Oct 20
20 October 2011
This Thursday October 20, credit unions around the world will be celebrating International Credit Union Day, a day celebrated on the third Thursday of October since its inception in 1948.
International Credit Union Day celebrates that for than 150 years, credit unions worldwide have proudly put people before profits in order to provide access to affordable financial services for all members – and improve the lives of their members around the world.
"Each year, this international event affords the opportunity to remember credit unions' proud history and promote awareness of and support for the credit union difference. This year's theme, "Credit Unions Build a Better World," celebrates the important economic and social contributions credit unions make to their communities worldwide," said Abacus CEO Louise Petschler.
"It also aligns cooperatively owned and controlled credit unions with the greater cooperative business sector and the United Nations, which will launch the International Year of Cooperatives 2012 later this year.
"Credit unions are not-for-profit financial institutions that provide banking and financial services for more than 184 million members in 97 countries worldwide. They exist to serve their members, providing a safe place to save money and access affordable loans.
"Credit unions are recognised as a force for positive economic and social change and have provided significant social and economic value in both developed and emerging nations. In addition to competitive loan rates and better customer service, members experience the difference that comes through in our democratic structure, our service to members, and the social goals that credit unions' 'people-helping-people' philosophy supports.
"Credit unions play a vital role in the economic development and stability of the communities they serve, helping people improve their lives through access to affordable financial services and supporting their local communities.
"Through the international trade association and development organisation for credit unions, the World Council for Credit Unions (WOCCU), development programs are run in countries like Haiti, Afghanistan and Sri Lanka to benefit impoverished and disadvantaged communities so that they can improve the quality of their lives.
"To find out more about mutual banking institutions in Australia – like credit unions, building societies and mutual banks – and what they can offer you, go to coba3.nexusone.com.au/media-a-resources/key-stats-a-fact-sheets," said Ms Petschler.
For more information, please contact:
Pamela Eldridge
Senior Adviser - Media, Public Affairs
(02) 8299 9024; 0423 843 790
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