ACROSS CALIFORNIA, CA (October 17, 2024) — Today, credit unions across California and around the world will unite to celebrate International Credit Union Day (ICU Day) under the inspiring theme of “One World Through Cooperative Finance”! This annual celebration, where the California Credit Union League and local credit unions partner together, serves as a powerful reminder of the credit union movement’s unwavering commitment to improving lives and communities.
Bringing together credit union members, employees, supporters, and local officials within a variety of communities in California, ICU Day has celebrated the values and achievements of credit unions annually on the third Thursday of October since 1948. Today is a unique day to reflect on the positive impact credit unions have on individuals, families, and communities worldwide.
Many credit unions are proudly participating in today’s global celebration, spotlighting the spirit of the credit union movement by hosting community appreciation events at branches and headquarter offices. Community attendees can enjoy learning more about financial literacy resources, what it means to be a credit union member, and celebrating the credit union difference.
“Our movement’s International Credit Union Day celebration aims to strengthen our bond with communities and raise awareness about the benefits of credit union membership,” said Scott Simpson, president and CEO of the League. “These activities, alongside those of other credit unions worldwide, will showcase the credit union difference and emphasize the positive role credit unions play in fostering financial wellbeing and community development. It’s a day to reflect on our history, celebrate our achievements, and reaffirm our commitment to the cooperative principles that make credit unions a beacon of financial hope around the world.”
Credit Unions’ Local Impact
ICU Day is more than just a celebration — it’s a testament to the enduring legacy of the credit union movement.
Several local credit unions throughout the state are partnering with the League to spotlight today’s impact, where League leaders are onsite to participate. These eight event locations are joined by dozens of credit unions that are celebrating ICU Day festivities across California — and they include: Golden 1 Credit Union (Sacramento, CA); Kinecta Federal Credit Union (El Segundo, CA); MOCSE Federal Credit Union (Modesto, CA); North Island Credit Union (California Credit Union) (Escondido, CA); Pacific Service Credit Union (Concord, CA); Rancho Federal Credit Union (Downey, CA); SchoolsFirst Federal Credit Union (Tustin, CA); and Wescom Credit Union (Pasadena, CA).
ICU Day awareness and credit unions’ mission has not gone unnoticed. This past summer, the California State Assembly introduced House Resolution No. 128, officially proclaiming October 17 as International Credit Union Day throughout the State of California. Initiated by the League, this resolution honors the tireless service and unwavering commitment of every credit union professional across the state, celebrating the alliances the League and credit unions have forged to make members’ financial dreams a reality.
Additionally, this year’s “One World Through Cooperative Finance” theme highlights the power of credit unions to promote financial inclusion. Credit unions are committed to serving underserved populations and providing access to affordable financial services for all. A recently released survey-based report compiled by the League and representing millions of credit union members across California reveals how local credit unions are serving the underserved, championing financial health, advancing members’ financial wellbeing, and supporting communities. It shows how credit unions are elevating their communities and enriching the lives of members through social impact initiatives, programs, and uplifting products and services every day.
Mission Driven for a Brighter Future
International Credit Union Day — sponsored by the World Council of Credit Unions and Worldwide Foundation for Credit Unions — provides an opportunity to reflect on the credit union movement’s rich history and celebrate its ongoing commitment to financial empowerment. It’s an opportunity to honor the work of pioneers and volunteers while reinforcing the credit union’s mission to encourage saving, offer affordable loans, and educate members about financial literacy.
By pooling resources and working together, credit unions demonstrate that a better world is possible — one where everyone has the opportunity to achieve financial stability and build a brighter future. The credit union movement is a global force for positive change, with over 403 million members in 98 countries worldwide. From small towns to bustling cities, credit unions provide a plethora of financial services to their members.
Today serves as a reminder of the credit union difference and the positive impact these financial cooperatives have on members and communities worldwide. They offer a safe and convenient place for members to save money and access loans and other financial services at reasonable rates. Credit unions are democratically controlled and member-owned, with each member having equal ownership and one vote, regardless of their savings.
“Credit unions are driven by a mission to serve their members, not to maximize profits,” Simpson added. “This commitment to member service is reflected in the affordable financial products and services they offer, as well as their dedication to financial education and community outreach. Through ICU Day, we are honored to reflect on how credit unions are not-for-profit financial cooperatives, providing an effective and viable alternative to for-profit financial institutions. We want to thank every credit union advocate and member for always making their voice heard, and for spreading our ‘People Helping People’ mission.”
“One World Through Cooperative Finance”/International Credit Union Day (ICU Day)
Headquartered in Ontario, California, the Leagues exist to help credit unions change people’s lives by supporting their operations, guidance, strategy and philosophy. Our trade association helps local credit unions in California serve nearly 14 million members and those in Nevada serve nearly 400,000 members. Credit unions are for people, not profit!
Karla Davis
Vice President of Communications and Marketing
California and Nevada Credit Union Leagues
media@ccul.org
