Celebrating International Credit Union Day 2024: One World Through Cooperative Finance

Today, October 17th, 2024, credit unions around the world will come together to celebrate International Credit Union (ICU) Day, a day to recognize the important role that credit unions play in empowering communities and expanding financial inclusion. This year’s theme, “One World Through Cooperative Finance,” emphasizes the cooperative model’s ability to bring people together through democratic, member-owned financial institutions that prioritize people over profit.
 

Since 1948, ICU Day has been celebrated on the third Thursday in October, honoring the contributions of credit unions and their members. The day serves as an opportunity to reflect on the global impact of credit unions, celebrate their achievements, and inspire members and communities to engage in the movement.
 

Our Goal: Reaching One Billion Members Worldwide

Across the globe, more than 1.4 billion people still lack access to affordable financial services. Credit unions provide a vital solution to this challenge, offering savings accounts, loans, and other financial tools to underserved populations, including farmers, entrepreneurs, and refugees. Through financial inclusion, credit unions help uplift individuals and communities, driving economic growth and improving quality of life.
 

This year’s theme, “One World Through Cooperative Finance,” encourages credit unions to highlight how their efforts unite people across different countries and cultures. The ultimate goal is to reach one billion members worldwide, demonstrating the power of the credit union movement.
 

Governor’s Proclamation: Recognizing ICU Day in Virginia

In recognition of the credit union movement’s contributions, Governor Glenn Youngkin has issued a proclamation declaring October 17th, 2024 as International Credit Union Day in Virginia. The proclamation acknowledges the many ways in which Virginia’s credit unions have supported communities across the Commonwealth, providing vital financial services and promoting economic empowerment.

According to the proclamation:

• Credit unions operate under a “people-helping-people” philosophy, pooling resources and leadership abilities to help members improve their financial futures.
• Credit unions in Virginia serve diverse communities, including educators, healthcare professionals, military members, and rural populations, offering tailored financial services to meet their unique needs.
• Virginia’s credit unions actively contribute to the state’s economic growth by offering small business loans, mortgages, and consumer credit.

ICU Day 2024: Educate, Participate, and Celebrate

This year, ICU Day focuses on three key calls to action: Educate, Participate, and Celebrate.

• Educate: Credit unions are encouraged to share the ICU Day message by distributing posters, engaging members with the story of credit unions, and offering educational resources on the importance of cooperative finance.
• Participate: Credit unions can support the global movement by making a donation to the Worldwide Foundation for Credit Unions (WFCU) and receiving a collectible ICU Day “One World” pin . Wearing and sharing these pins helps raise awareness about credit unions’ role in promoting financial inclusion worldwide.
• Celebrate: Share your ICU Day festivities by using the hashtag #ICUDay2024 on social media. Credit unions worldwide will join in sharing photos, videos, and stories of how they’re making a difference.
   

Where Do ICU Day Donations Go?

Donations raised on ICU Day help support several important initiatives, including:

• Growing scholarships for the Global Women’s Leadership Network and the World Council Young Credit Union Professionals Program (WYCUP) .
• Supporting credit union development projects around the world, helping expand access to financial services for underserved communities.
• Replenishing the Project Storm Break Fund, which provides disaster relief to credit unions impacted by natural disasters.

Join the Movement: One World Through Cooperative Finance

This International Credit Union Day, let’s celebrate the progress credit unions have made in driving financial inclusion, supporting underserved communities, and fostering global unity. As we look forward to reaching one billion members worldwide, we’re reminded of the strength and impact of the cooperative financial model.

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