International Credit Union Day is celebrated each year on the third Thursday in October, in the midst of Co-op week.
The first Credit Union Day was celebrated on January 17, 1927. This date was chosen by the Credit Union League of Massachusetts because it was the birthday of Benjamin Franklin, who is known as the American "Apostle of Thrift". But Credit Union Day did not become an annual celebration until almost 20 years later.
It was not until 1948, the first centenary of Friedrich Raiffesen's attempt to establish the first credit union in Germany, that the third Thursday in October was chosen for Credit Union Day observances in the United States. By 1965, the credit union movement had grown so widely that CUNA International was formed, from the U.S. Credit Union National Association World Extension Department. The celebration in October became known as International Credit Union Day and was proclaimed as the time to honour credit union activities and involvements throughout the world.
This special day offers an opportunity to celebrate the co-operative spirit and system around the world - a system with over 42,000 credit unions in 92 countries and over 157 million members. (World Council of Credit Unions, Inc. 2005 Statistical Report).
For additional documentation on the history of International Credit Union Day, visit the Canadian Co-operative Association website, or the World Council of Credit Unions website.
