Celebrating Local Service with a Global Reach
Madison, WI – October 15, 2019 – On Thursday, October 17, 2019, UW Credit Union will join other credit unions around the world to honor International Credit Union Day and celebrate the achievements of the credit union movement.
This year’s International Credit Union Day theme of “Local Service. Global Reach.” showcases how credit unions bring financial empowerment to local communities across the globe.
When our founders created UW Credit Union in 1931, they had one goal in mind: to help improve the financial lives of our members,” said Paul Kundert, president and CEO of UW Credit Union. “Inspired by “The Wisconsin Idea” as we’ve grown, so has our outreach to the wider Wisconsin community as part of our commitment to support people’s financial well-being.”
The credit union movement took shape in the United States in the early 1900s in response to predatory lending and unfair banking practices. One estimate from the 1920s found that 85 percent of Wisconsinites did not qualify for bank credit, and illegitimate lenders charged interest rates from 200 to 1,000 percent.
What started as a simple cooperative idea to pool resources and provide fair loans to each other has expanded to more than 89,000 credit unions in 117 countries, with more than 260 million credit union members.
The cooperative spirit has led to life-changing opportunities for millions of people. In many parts of the world, people’s first taste of democracy is through their credit union, where “one member, one vote” is the governing structure. Beyond providing fair financial services, credit unions serve their communities through philanthropy, education and volunteerism.
UW Credit Union is proud to celebrate International Credit Union Day and be part of a movement that helps families and communities thrive.
About UW Credit Union
UW Credit Union is a growing, federally insured financial institution and a leading provider of a full range of financial services to University of Wisconsin communities. UW Credit Union's over 650 employees serve the financial needs of more than 270,000 members through world-class technology systems, and through a convenient network of 28 branch locations and over 100 ATMs. With assets exceeding $3 billion, UW Credit Union is ranked nationally among the leading credit unions. Founded more than 85 years ago by members of the University of Wisconsin community, UW Credit Union continues to operate as a not-for-profit, member-owned financial cooperative with locations in the Madison, Milwaukee, Stevens Point, Green Bay, Oshkosh, Whitewater and La Crosse areas.