From the Illinois Credit Union League

International Credit Union Day Thursday, Oct. 20, is designed to create awareness and celebrate the ways credit unions improve the lives of their members around the world.

More than 49,000 credit unions worldwide serve nearly 184 million people in 97 countries.

This year’s theme, “Credit Unions Build a Better World,” celebrates the important economic and social contributions credit unions make to their communities worldwide. It also aligns cooperatively-owned and controlled credit unions with the greater cooperative business sector and the United Nations as they launch the International Year of Cooperatives 2012 later this year.

What makes credit unions unique?

Equal Ownership — Credit unions are democratically controlled and member-owned and operated. 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 safe, convenient place for members to save money and access loans and other financial services at reasonable rates.

Social Purpose: People Helping People — Credit unions exist to serve their members, not to make a profit. Every member counts, including those of modest means. This “people-first” philosophy impels credit unions and their employees to get involved in their community and support worthwhile causes.

Volunteer Leadership — Each credit union is governed by a volunteer board of directors elected by and from the credit union’s membership.

Financial Education for Members — Credit unions place particular importance on educational opportunities for their members and the public to help everyone become better educated consumers of financial services.

Trust — This year, more than ever, credit unions have received positive press for being trustworthy and resilient institutions during a tumultuous time. Credit union members worldwide can be proud of these accomplishments and rest assured that their money is safe at the credit union.

From the Oct. 19-25, 2011, issue