Today, Oct. 17, 2024, is International Credit Union (ICU) Day, a day to celebrate the ways credit unions improve the lives of their members. This year’s theme is “One World Through Cooperative Finance” – which signifies how credit unions still bring people together to grow financial inclusion and make local communities stronger.
Credit unions are unique is many ways:
- Equal Ownership – Credit unions are member-owned. Each member has equal ownership and one vote regardless of how much money he or she has in savings.
- Not for Profit – Credit unions are not-for-profit financial cooperatives that provide a safeplace for members to save money and access loans and other financial services.
- Better Rates & Less Fees – Credit unions return profits to their members in the form of generally better rates and lower and fewer fees than banks.
- Social Purpose: People Helping People – Credit unions exist to serve their members, not to make a profit. Every member counts, even those of modest means.
- Volunteer Leadership – Each credit union is governed by a volunteer board of directors elected by the credit union’s members.
- Financial Education – Credit unions place importance on educational opportunities to help members become better-educated consumers of financial services.
- Community Service & Giving Back – Credit unions give back to their communities through donations, scholarships, providing financial education, and sponsoring community events.
Stop in to PFCU today and receive a special treat to celebrate International Credit Union Day!
