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International Credit Union Day

By VerityCU October 18, 2021 Community

International Credit Union Day (ICU Day) is a day to celebrate the spirit of the global credit union movement. It recognizes the movement’s history, achievements, hard work and to share member experiences. ICU Day has been celebrated on the third Thursday of October since 1948 and will be celebrated Thursday October 21st. The theme for ICU Day is “Building financial health, for a brighter tomorrow”

The first credit union was established in Germany, 1864 by Friedrich Raiffeisen with a purpose to enhance the livelihood of his friends and neighbors. The initial idea was to compile a pool of money for the community to use so that when someone falls shorts on funds they can borrow and repay over time. As you can see, that same idea is instilled in credit unions all around. Usually, these financial institutions are started through an employer with a not-for-profit business style and focused on being member owned. Instead of banks that are owned by investors, credit unions sole focus is to enhance the lives of their members/owners.

Verity has been a Credit Union since 1933, making it one of the first credit unions in Washington State. And there would be no way we would have lasted this long if it wasn’t for our members. Come stop by one of our locations and see what “bright” surprises we have for ICU Day. You’re not going to want to miss this celebration!