Celebrate International Credit Union Day 2024: One World Through Cooperative Finance
On October 17, 2024, credit union members across the globe will come together to celebrate International Credit Union Day®. This annual event, now in its 76th year, honors the positive impact and achievements of the credit union movement worldwide. The theme for this year is “One World Through Cooperative Finance,” celebrating the unique role credit unions play in fostering economic and social change through their member-focused, not-for-profit structure.
Why Credit Unions Are So Great
Credit unions stand apart from traditional financial institutions in many ways. They are not-for-profit financial cooperatives, meaning their main goal is to serve members rather than maximize profits. This structure allows credit unions to provide an alternative to for-profit banks, offering lower fees, better loan rates, and personalized financial services.
Globally, credit unions serve more than 403 million members in 98 countries, representing a strong force for positive change. Over 82,000 credit unions are dedicated to empowering their members and strengthening local communities, helping to build financial security through cooperative finance.
Here’s why credit unions, like MMCCU, are so valuable:
- Member-Owned and Member-Focused
Credit unions are owned by the people they serve. At MMCCU, our members are at the heart of everything we do. Instead of focusing on profits, our mission is to provide competitive rates, financial education, and community support to our members. - Better Rates and Lower Fees
Because we’re a not-for-profit, we pass our earnings back to members in the form of better interest rates on savings accounts and loans. For example, MMCCU’s Kasasa Saver account currently offers a competitive 5.00% APY on the first $20,000, helping our members grow their savings faster than at traditional banks. - Commitment to Financial Wellness
Credit unions are dedicated to helping members achieve their financial goals. At MMCCU, we offer a variety of financial products, including checking and savings accounts, loans, and educational resources designed to empower our members to make informed decisions about their money. - Community Support
One of the hallmarks of credit unions is their deep connection to the communities they serve. MMCCU is committed to making a difference in Marshfield and the surrounding areas. Whether through financial literacy programs, community events, or volunteer efforts, we’re here to support our members beyond banking.
A Global Movement with a Local Impact
Since 1948, International Credit Union Day® has been a celebration of the credit union difference. Every year, on the third Thursday of October, credit unions reflect on their proud history and raise awareness about the benefits of credit unions and financial cooperatives.
This year’s theme, “One World Through Cooperative Finance,” reminds us that credit unions have a powerful mission: to serve those who are underserved by traditional banking. With 1.4 billion people globally still unbanked, credit unions offer an inclusive financial model that prioritizes people over profits.
At MMCCU, we take pride in being part of this global movement. We believe in the power of cooperative finance to create a better future for all. Our credit union is committed to helping our members achieve financial stability and success through our member-owned, not-for-profit model.
Join Us on International Credit Union Day 2024
On October 17, MMCCU will join credit unions from around the world to celebrate International Credit Union Day with a day of appreciation and community engagement. We invite our members and the entire community to join us in recognizing the value that credit unions bring to individuals and society.
