(WBNG Binghamton) On Thursday, Oct. 18, credit unions throughout the state will celebrate International Credit Union Day. This year's International Credit Union Day theme, "Members Matter Most," embraces the key concept behind credit unions and speaks to the heart of the credit union "people helping people" philosophy.
According to a news release:
"As not-for-profit financial cooperatives that stand on social responsibility and economic viability, credit unions play a substantial role in the global cooperative movement," said William J. Mellin, president and CEO of the Credit Union Association of New York. "Here in New York State, they provide an effective and viable alternative to for-profit financial institutions for more than 4.7 million members."
As credit unions celebrate Oct. 18, they will honor the unique service they provide in their communities and the many ways their members have benefited from the credit union difference. They will also be commemorating the credit union movement's history, traditions, achievements and impact.
New York's 421 credit unions will mark the celebration with open houses, contests, rate specials and a variety of community events.
• In 100 countries, close to 186 million people are members of credit unions that operate
by the following cooperative principles:
• voluntary and open membership;
• democratic member control;
• member economic participation;
• autonomy and independence;
• education, training, and information;
• cooperation among cooperatives; and
• concern for community.
International Credit Union Day presents the perfect opportunity to help consumers learn more about what differentiates credit unions, as member-owned financial cooperatives, from other financial institutions. By putting people first and responding to the needs of
their member-owners, credit unions truly show that "Members Matter Most."