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Why Is Customer Owned Banking So Important?

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Join us as we celebrate the 75th anniversary of International Credit Union Day in 2023 and reflect on the valuable impact these financial co-operatives have made in our community and across the globe.

On Thursday 19 October 2023 credit unions in our community and worldwide will come together to celebrate the 75th anniversary of International Credit Union Day® and the role that financial co-operatives play in improving the communities they serve and the lives of their members the world over.

ICU Day 2023 is a celebration of the real world impact credit unions and other financial co-operatives have made – and continue to make – for their members.

It is also a chance to reflect on the lives and communities that have been improved by our movement – making life choices and dreams a reality is the credit union difference.

All credit unions share a common goal to offer access to affordable financial services to their members and provide even the most financially disadvantaged the tools and the opportunities to be financially self-sufficient.

Credit unions are unique because they are not-for-profit, democratically controlled, member-owned co-operatives: credit unions pool their members’ assets to provide low-cost loans and other financial services in the best interest of the members, not to earn shareholder profits.

The credit union movement’s co-operative spirit is embraced by 393 million members served by more than 87,000 credit unions in 118 countries worldwide.

Exceptional service and democratic control are just some of the many benefits of being a credit union or co-operative member, a notion that is as true of credit unions here in Central Queensland as it is in other co-operatively owned financial institutions from Armenia to Zimbabwe.

Being founded on community service is a principle that has set credit unions and financial co-operatives apart from more traditional banking structures for more than 150 years.

On home soil, The Capricornian has been providing trusted, financially sustainable and quality financial services to the local community for over 60 years – evolving from a small parish credit union established in Rockhampton in 1959 to a full service financial institution with eight branches covering our region.

This year we have taken time to recognise 75 years of International Credit Union Day® across our branches. We hope everyone will join us in celebrating the credit union difference, our proud co-operative heritage and the wonderful opportunities credit unions offer members every day.

Thinking of becoming a member of the only locally owned financial institution in Central Queensland? Chat with us today, we’re here for good.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

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