Global Credit Union Movement Celebrates International Credit Union Day

Friday 26 January 2024

This week on Thursday 20 October, International Credit Union (ICU) Day is celebrated by the global credit union movement. The day reflects upon the credit union movement’s history, promote its achievements, recognise hard work and share member experiences.

This year the theme is: “Empower Your Financial Future with a Credit Union.” Across Britain, credit unions will raise awareness about the tremendous work and impact they make in their communities.

“On behalf from all staff and directors at ABCUL, we would like to wish the global credit union movement a happy International Credit Union Day,” says ABCUL CEO, Robert Kelly. “Credit unions bring financial inclusion and a promising future to people all over the world. Since the first celebration in 1948, ICU Day is a chance to spotlight and celebrate these achievements. It gives our movement an opportunity to showcase to the world the impact credit unions make in their local community.”

The latest data from the Bank of England for the first quarter of 2022 finds that 1.93 million people in the UK are now members of a credit union, an increase of more than 22,000 compared to the same period last year. As well as growing membership in the UK, credit unions are also loaning record sums to members with total borrowing surpassing £1.79 billion in Q1 2022. It marks an increase of £197 million (12%) since the opening quarter of 2021, one year ago.

“The current economic crisis continues to challenge the financial well-being of people around the globe,” Robert added. “That is why we see ‘Empower Your Financial Future with a Credit Union’ as much more than a theme—it is the fulfillment of the credit union mission.”

WOCCU President and CEO Elissa McCarter LaBorde said: “On this ICU Day, let me wish all of you at ABCUL and the British credit union movement a celebration that empowers your members and shows the global movement that you are truly advancing financial inclusion. Thank you to the work you do and happy International Credit Union Day.