Happy 75th Anniversary of International Credit Union Day!
What's ICU Day, Anyway?
Every October, we gear up for International Credit Union Day that is on October 19th, and guess what? It also happens to be Cooperative Month! Credit unions are like those friendly neighbors who help you achieve financial well-being. They're not just banks; they're member-owned and self-governed organizations that are all about making financial services accessible.
But What's a Cooperative, You Ask?
A cooperative, according to the International Co-Operative Alliance, is a group of people coming together voluntarily to meet their common economic, social, and cultural needs through a democratically controlled enterprise. In simpler terms, it's a business created by the people, for the people, to tackle common issues.
The Eight Cooperative Principles
Okay, we could talk about all eight principles, but let's keep it sweet and simple and focus on two that make cooperatives one of the coolest business models in the US today.
Principle #2: Democratic Member Control
This means you, as a member, get a say! Every member, regardless of how much they use the cooperative, gets one vote when it comes to making business decisions. It's all about fairness and equality.
Principle #6: Cooperation Among Cooperatives
Co-ops are all about teamwork! They collaborate and share ideas, not just within their sector but across different industries. It's about making all cooperatives better, together.
A Little Credit Union History
Credit unions started right here in North Carolina back in the 1920s. Why? Because there was a need for easy access to loans and savings accounts. Fast forward to today, and we've evolved to offer a whole lot more. Just like a bank, we've got all the financial products you need to reach those money goals. But we're not just about banking; we also believe in giving back to the communities we serve and collaborating to make sure you have everything you need.
As we celebrate the 75th anniversary of International Credit Union Day; remember, when you're with us, you're not just a customer; you're an owner!