Since 1948, International Credit Union Day has been celebrated on the third Thursday of October. On this day we celebrate the spirit of the global credit union movement. This is a day to reflect on the history of the movement, celebrate achievements, and share experiences.

Where it all began

In 1846 Germany suffered from a crop failure that led to famine. Hermann Schulze-Delitsch took it upon himself to make a difference in his community. He founded a cooperatively owned mill and bakery but wanted to more. In 1852 he founded the first “people’s bank” which provided credit services to entrepreneurs. Meanwhile, Friedrich Wilhelm Raiffeisen established a credit society also in Germany in 1849. His credit society grew until in 1864 he organized a credit union for farmers.

Credit Unions Come to North America

Credit Unions grew popular throughout Europe and to communities around the world. In 1901, Alphonse and Dorimene Desjardins founded La Caisse Populaire de Levis. With a simple deposit of ten cents, he began the credit union movement in North America. Shortly after the credit union’s successful launch, Alphonse teamed up with two Americans, Edward Filene and Roy Bergengren to establish credit unions in the United States.

Credit Unions Today

Today, Credit Unions are well established throughout the world. There are credit unions in 118 countries and 375 million members worldwide. We have endured financial storms through the years and due to the movement’s principles and self regulation; have never needed a government bailout. Credit Unions are still the most trusted financial institution and will continue to stay true to their purpose of “people helping people” into the future.

How to get involved

This year, for International Credit Union Day, we will be highlighting credit unions from around the world, past and present. We will have signage in English and Spanish for all of our branches. We are sending out coloring sheets for you and the members to use. Get creative, and then submit your entry to see who is the most creative in their International Credit Union Art for a chance to win a free coffee! We will also have a large social media presence centered around International Credit Union Day.

Alive CFO and Northeast LSCU Chapter Treasurer, Ricky Joshi is working among the cooperatives to reinvigorate the League of Southeastern Credit Union & Affiliates Northeast Chapter’s Young Professionals Group. The LSCU is the regional trade association for credit unions in Alabama, Florida, and Georgia. They provide resources, tools, and support that enable credit unions to grow and succeed.

The Young Professionals group or “YP” is made up of credit union professionals, 40 years of age and younger, working to positively impact the credit union movement. The goals of the program are “improved industry awareness, increased knowledge and professional development, and a collaborative spirit among young credit union professionals”, according to the LSCU. These individuals are the future leaders of the credit union movement.

Ricky joined YP as soon as the program was initiated several years ago. He has since aged out of being an active participant but is taking on an active role in encouraging the YP program’s growth. Ricky shared ”The value added that comes from the YP program is the people you surround yourself with. You get to bounce back ideas among each other and see what they are doing to further themselves in their career.” One of the 9 Cooperative Principles of the Credit Union Movement is “Cooperation among cooperatives”, which is why groups such as YP are so special. Other industries that may be less cooperative do not have the safe space to bounce ideas off of peers. It’s not all about tight ties and stiff shoes though, in fact, when asking Ricky about his YP experience he shared one of his greatest joys was simply “attending social hours and connecting with people”.

Each year, YP hosts an event called “YP Think Tank”. Jessica Parmenter, supervisor of the Touchton Branch and Hali Hagist, community development representative, both had the opportunity to attend in 2023. At the event each speaker addressed a topic of professional development from self marketing, to being a team leader, to understanding what the LSCU does. Other YP Chapter Board Members sat on a panel and shared the value they have received from being active in their groups. Jess shared that she “enjoyed being around other like-minded young professionals. It was fun hearing their experiences and stories within the credit union space. Seeing how excited and encouraging everyone was really motivated me to want to become more involved in the credit union industry.”

If you are interested in joining the reinvigorated and exciting YP movement or are passionate about credit unions and want to deepen your impact, join the YP chapter for free by using the button below.