International Credit Union Day

Credit Union Day

A History of Collaboration and Community Investments

October 19, 2017, marks International Credit Union Day. Credit Unions all over the world use this day to highlight the good they are doing in their communities, and to show appreciation to the members that make it all possible. Here in the Boundary, Grand Forks Credit Union (gfcu) provides a local example of the good that financial cooperatives are doing across our region, our province and our nation.

In the past ten years alone, gfcu has returned more than $6,000,000 to the Boundary Community in the form of donations, scholarships, sponsorships, patronage dividends, and other Community Investments. In the hands of a bank, most of this money would have left the community in the form of corporate salaries and non-resident shareholder returns.

Despite competing against massive national and international institutions, Credit Unions remain strong across Canada. A large part of this success belongs to the loyal lifetime Credit Union members; those people who bank with a Credit Union because they recognize and appreciate the principles and values that guide the organization. Belonging to a local Credit Union, they contribute first hand to their own financial health and to the wellbeing of their community.

For a financial cooperative (aka – Credit Union) collaboration and cooperation are the cornerstones. Collaborating with peers, members, employees and communities helps to build the momentum essential in living these shared values, while remaining competitive and relevant in an ever-evolving financial landscape.