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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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