World Credit Union Day is celerbrated annually on the third thursday in October. This year’s observance is held under the theme ‘Local Service. Global Good’. The theme recognises the credit union model by shining light on the industry’s support of charity causes at the local, national and international level.
This is an occasion when credit unions reflect upon their history and achievements both locally and internationally. The international movement spans across six continents, has over 200 million members and an asset base of 1.7 trillion US dollars. Credit unions have been in existence in St Lucia for over fifty years and have grown to a membership of over 72 000 and has an asset base of over half a billion dollars.
Credit Unions are member-owned, not-for-profit financial cooperatives that provide savings, credit and other financial services to their members. Credit union membership is based on a common bond, a linkage shared by savers and borrowers who belong to a specific community, organization, religion or place of employment.
Credit unions provide members the chance to own a financial institution and help them create opportunities such as starting small businesses, growing farms, building family homes and educating their children. Regardless of the number of shares held in the credit union, each member may run for the volunteer board of directors and cast a vote in elections.
The St. Lucia Co-Operative Credit Union League Limited takes this opportunity to wish all cooperators a happy credit union day and thank all members, volunteers and staff for the contribution that they have made to the successes of the local movement.
Should you require further information on this release please contact The Cooperative credit union League Limited at 452 546.