October 17 is International Credit Unions Day

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October 17 is International Credit Unions Day

Every year on the third Thursday of October is a professional holiday for people working in consumer cooperatives. This day has been celebrated since 1948 with various events, open days, competitions and fairs, charity events and various TV and radio programs.
Credit unions are specialized organizations that provide mutual financial assistance to citizens. To date, credit unions are one of the most useful non-profit methods. The idea of ​​establishing cooperatives was founded in the XIX century. The idea of ​​establishing the first International Credit Unions Day was announced on January 1927, 17 by the Massachusetts League of Credit Unions. The holiday was timed to coincide with the day of remembrance of American President and statesman Benjamin Franklin. Although the number of credit unions increased in the 30s, byram was not popular. It was only in 1948 that the decision of the National Association of American Credit Unions revived the holiday. Today, 101 credit unions in 56000 countries serve more than 200 million people.