Over 100 million credit union members worldwide are celebrating International Credit Union Day today, under the theme, "Join Us! 100 Million Members Worldwide."
International Credit Union Day is the highlight of a week of activities which began locally on October 15 with a national church service.
The observances bring people together to reflect on their co-operative history, their credit union achievement and to promote the credit union idea across the world. It is also a time to honour the service and achievements of the many pioneers who founded credit unions and those who serve today.
The first official holiday for credit union members and workers was celebrated on January 17, 1927 in the United States of America. The day was chosen because it was the birthday of America's "Apostle of Thrift," Benjamin Franklin.
Two American Credit Union Movement pioneers believed that Franklin symbolised "the life and teaching embodied in the spirit and purpose of credit unions." At that time, however, there was so much activity in the development of credit unions in North America that people were either too busy to celebrate or too new to the Movement to recognise the significance of their actions. Thus after a brief trial period, the practice of Credit Union Day ceased.
In 1948, the US Credit Union National Association (CUNA) decided to try a new national Credit Union celebration. CUNA and CUNA Mutual Insurance Society set aside the third Thursday of October as the national day of observance. From here the practice spread to the rest of the world.
Celebrations in different countries take many forms. In Jamaica, the Jamaica Co-operative Credit Union League will hold its annual Awards function, the highlight of which is the presentation of the Credit Union Volunteer of the Year Award. Credit Unions will organise several activities, most popular among them is the Members Appreciation Day.
