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The credit union movement around the world celebrates International Credit Union Day Oct. 16. It's a time for all members, volunteers, and staff to observe these special features of credit unions:

  • Credit unions are not-for-profit cooperatives organized to provide low-cost financial services to members.

  • Seventy million Americans now save and borrow through their memberships in America's 12,000 credit unions.

  • All credit unions are governed by volunteer boards of directors who are elected by and from the membership.

  • All federal and most state credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF), a U.S. government agency that's comparable to the Federal Deposit Insurance Corp. (FDIC), which insures deposits and savings in banks and S&Ls.;

  • World-wide, there are more than 36,000 credit unions serving more than 85 million members.

  • There are credit unions serving members in 86 countries around the world.
Source: World Council of Credit Unions, CUNA & Affiliates
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