Celebrating International Credit Union Day 2025
- Options Credit Union
- 11 hours ago
- 3 min read
“Cooperation Through a Prosperous World”
October 16, 2025 marks the 77th annual International Credit Union Day® — a meaningful day when credit unions around the globe pause to celebrate the spirit of cooperation and the financial well-being they foster in communities. Help us celebrate the ways credit unions improve the lives of their members around the world.
What Is International Credit Union Day?
Since 1948, ICU Day has served as a reminder of the credit union movement’s guiding principles: community, shared responsibility, and putting members first. It’s a moment to spotlight how cooperative finance helps build stronger communities, empower individuals, and drive inclusive prosperity.
Credit unions are financial institutions, but they’re also part of a progressive social movement designed to help everyday people gain control over their finances. While traditional banks keep large chunks of their earnings as profits for shareholders or trustees, credit unions try to make only enough money to keep the institution going, redistributing profits back to their members in the form of lower interest rates on loans and higher interest rates on savings.
The credit union movement began in 1852, when Franz Hermann Schulze-Delitzsch founded the first credit union in what is now called Switzerland. He was hoping to find a way to alleviate the problems of a recent drought and resulting famine, but banks were unwilling to extend loans to farmers that were behind on their payments.
Founding a “people’s bank,” Schulze-Delitzsch extended loans to those who needed them, bridging the gap between the drought and prosperity in the region. By 1864, credit unions had spread to Germany, and by the end of the 19th century, the movement had reached urban centers throughout Europe. The idea of a banking system for the people spread quickly, which isn’t surprising when you consider that a message built around the idea of letting members control their own money is as sensible as it is exciting.
By the early 20th century, credit unions had reached North America, where they took off almost immediately. The idea was introduced by Alphonse Desjardins, who was stirred to action by the story of a local citizen who had been ordered by a court to pay $5,000 Canadian Dollars (CAD) in interest on a loan of $150 CAD.
During the 20th century, credit unions exploded in size and variety. Today there are about 74,000 credit unions in 104 countries, spanning six continents and serving more than 411 million individuals and businesses.
The Credit Union Difference: Why It Matters
Credit unions differ from traditional banks in a few key ways — and not just in name. Here are some of the features that make credit unions special:
Members First, Not Shareholders: When you join a credit union, you become a member-owner. Profits aren’t diverted to distant shareholders — they’re reinvested into the cooperative or returned to members through better products and services.
Lower Fees, Better Rates: Because credit unions operate with a cooperative mindset, their overhead and profit margins tend to be lower. That allows them to offer lower fees and more favorable interest rates on savings and loans.
Support Through Life’s Ups and Downs: Credit unions often have more flexibility to work with members in times of financial stress. Whether it’s offering loan modifications, financial coaching, or a helping hand, many credit unions place people over pure profits.
Democratic Governance: In a credit union, each member typically gets one vote — no matter how much money they’ve deposited — in electing a board. That ensures control remains with the community of members.
Community Impact: Credit unions often reinvest locally — through small-business lending, financial education, community service, and more. Their cooperative roots encourage a focus on local prosperity.
