International Credit Union Day - Local Service. Global Reach.

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October 17, 2019

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International Credit Union Day – Local Service. Global Reach. 
Serving people, for people is what we built our foundation upon. Arbor Financial Credit Union is proud to be involved in the cooperative movement that so many credit unions, nationwide, reside within. We work together for people not profit. We strive to make a difference for our members, for our movement, and for each other. Local Service. Global Reach.

What is International Credit Union Day? 
On every third Thursday of October since 1948, we celebrate International Credit Union Day. This 71st celebratory day is filled with appreciation focused towards our members, employees, and participants in the movement. International Credit Union Day is a themed, international holiday. The theme varies yearly, and is often celebrated with parades, parties, and other public recognitions. International Credit Union Day is a celebratory day with global recognition of local impacts being made by credit unions.

What is the theme this year? 
Local Service. Global Reach. Many credit unions across the globe serve a local community. This local movement has transcended into a community that is globally compiled of 260 million members.

What does it mean to be in a credit union movement? 
Credit unions agree to participate in a movement when evolving and becoming. Within this movement, it is understood that other credit unions are never viewed as negative competition, rather, more like teammates. This movement is a team effort that requires everyone to work for the moral truth, and the inherit wellbeing of others. Working for people, not profit.

Furthermore, if you are a member of a credit union, you own an equal amount of shares as every other member residing within that credit union. Every credit union is a not-for profit financial institution, whereas banks are considered for-profit financial institutions. This year, the theme for International Credit Union day resonates so heavily within the credit union community because our service truly is for the betterment of individuals and their financial moves locally, therefore, making global impacts. 

How Does This Affect You?
Being a part of the movement comes along with many different things, and you may be wondering, “How does this affect me?” By being a member of a credit union, you are enmeshed within the movement. Member perks come in small, but appreciated ways. An example is of Arbor Financial Credit Union’s participation with the CO-OP ATM network. Credit unions that are connected by CO-OP are linked with other credit unions nationwide. Join any of them, and you can use nearly 30,000 surcharge-free CO-OP ATMs.  

Other ways you may be affected rely heavily on your financial institutions board. A board within a credit union is compiled of volunteers, and often times, individuals who are members. These board members do not receive monetary incentives. On the other hand, board members within the banking industry have boards that are funded and often times ruled by personal financial gain, rather than company and member wide financial gain. What does this mean for you? This means, many decisions that are made on a credit union board are often made with the member’s best interest in mind. This can affect your rates, payments, and much more within your financial plan that is often overlooked. 

International Credit Union Day is no holiday that should go unnoticed. This holiday is for our members and the people who make this movement possible. Work together, work hard, and work diligently for others, as well as their financial well-being. Everyone deserves a financial victory, and by being a part of a local service with a global reach, everyone wins. 

Happy International Credit Union Day!

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