International Credit Union Day - October
Thu, Oct 20, 2022

International Credit Union Day

International Credit Union Day is celebrated on October 20th. Credit unions are constantly working to improve conditions for clients and provide high quality services. Fundraising, competitions, picnics and volunteering are held.

History

The emergence of the first cooperative forms of activity in the 19th century was the impetus for the formation of credit unions. The founders of one of them were Schulze-Delitzsch and Friedrich Raiffeisen in the period from 1846 to 1847 in Germany. The credit society, which was supposed to be a charitable organization for wealthy citizens, was founded in 1849 by Raiffeisen. In 1864, he was the organizer of a new credit union for farms, which was supposed to exist on the principle of cooperative interdependence, an approach that has value today. Meanwhile, in 1852, for the first time, the “people’s bank” was created by Schulze-Delitzsch for lending to urban entrepreneurs.

In 1948, CUNA began celebrating International Credit Union Day. The World Council continues today to provide resources to credit unions and associations around the world.

Interesting facts

  • becoming one of the members of a credit union, you will forever remain a member;
  • in 1934, President Roosevelt signed the Federal Credit Union Act, thereby preventing high lending interest rates;
  • credit unions are not-for-profit enterprises, so all income is returned to unions and communities;
  • In 1864 Luigi Luzzatti created the first credit union.

How to celebrate

Become a member of a credit union on International Credit Union Day. In this way, you will join a community that helps people like you realize their dreams. Try to develop and implement the concept of a community project. Organize a donation event for people in need.

When is International Credit Union Day celebrated in 2022?

International Credit Union Day is observed on the third Thursday of October each year.

Observations

Weekday Month Day Year
Thursday October 20 2022
Thursday October 19 2023
Thursday October 17 2024
Thursday October 16 2025
Thursday October 15 2026

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