Carrickmacrross joins more than 89,000 credit unions around the world to celebrate International Credit Union Day® (ICU Day®) on 17th October. The 71st ICU Day® is an important celebration not just for the global movement, but also for Irish credit unions.
In Ireland, credit unions are more important and relevant than ever. There are now 3.6 million credit union members on the island of Ireland, benefitting from €4.9 billion in loans. Lending by credit unions is up by 7.2% year-on-year, as members continue to benefit from affordable and flexible lending terms and conditions.
Credit unions are ethical, not-for-profit lenders that continue to provide effective and viable alternatives to financial institutions which operate for profit. Credit unions genuinely care about their members, and put them at the heart of everything they do. This is why Irish credit unions have won the national customer experience award, CX Award, for a record-breaking five consecutive years. They are the only organisations in the world to have achieved this.
The theme for the 71st ICU Day® is ‘Local Service. Global Reach.’ This is reflective of how each individual credit union serves a local community. Collectively, this local connection has a global effect – there are now 260 million credit union members in 117 countries worldwide.
ICU Day® has been celebrated annually since 1948, and is traditionally marked on the third Thursday in October. The awareness day celebrates the spirit of the global credit union movement. It is an opportunity to reflect upon the credit union movement’s history, promote its achievements, recognise the hard work and share member experiences.