Celebrate International Credit Union Day with Us!
In honor of International Credit Union Day, we’re giving away (3) $100 gift cards, and there are three easy ways to enter:
- Visit Your Branch1 – Stop by any of our branch locations and submit your entry during business hours.
- Use an ITM with a Live Teller2 – Complete a transaction at an ITM, with one of our interactive tellers during business hours.
- Go Online3 – Conduct a transaction via online or mobile banking on October 17, 2024.
Good Luck!
What is International Credit Union Day and why is it observed?
On October 17, 2024, credit union members around the world will celebrate International Credit Union Day®, a day commemorating the credit union movement’s impact and achievements. This year makes the 76th anniversary of this event, celebrated under the theme One World Through Cooperative Finance.
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 82,000 credit unions in 98 countries, spanning six continents and serving more than 403 million individuals and businesses.
1 Terms and Conditions: Promotional Period is October 17, 2024. Participants must be 18 years of age and a member of Health Advantage Credit Union.
2 Each Health Advantage member transaction completed at the State Street Lobby ITM or Michigan Avenue ITM location, using an Interactive Teller, during business hours of the promotional period counts as one entry.
3 Each Health Advantage member transaction completed via online/mobile banking during the promotional period counts as one entry.
