Every year on International Credit Union Day, credit unions across the globe celebrate their unique role in the financial world. International Credit Union Day highlights the decades of progress, resilience, and people-centered missions that the worldwide credit union movement has fostered.
As we celebrate International Credit Union Day on October 16th, 2025, let’s explore the defining moments that have shaped the credit union landscape across the globe.
1850s: The Birth of a Movement
The credit union movement began in the 1850s in Germany. Farmers and workers sought ways to pool their resources, support each other, and gain financial independence. This foundational concept—people helping people—remains at the heart of credit unions worldwide.
1909: Credit Unions Arrive in the U.S.
The first American credit union—St. Mary’s Cooperative Credit Association—was established in 1909. St. Mary’s Cooperative Credit Association set the standard for cooperative financial services in America, opening the doors for millions to receive fair, community-focused access to financial services.
1934: The Federal Credit Union Act
Recognizing the value and impact of credit unions, President Franklin D. Roosevelt signed the Federal Credit Union Act in 1934. This legislation enabled the creation of federal credit unions, allowing credit unions to flourish and provide financial empowerment across the nation.
1938: Local Milestones—Great Lakes Credit Union
Great Lakes Credit Union was founded in 1938. Over the past 87 years, GLCU has grown from a single location on the Naval Station Great Lakes in North Chicago, to 23 branches across Illinois and Indiana. GLCU has lived out the credit union movement’s “people helping people” philosophy through our “banking for a greater good” mission, with a dedication to financial empowerment and community giveback.
1948: The First International Credit Union Day
In 1948, members across the globe came together to celebrate the first International Credit Union Day, marking a tradition that unites credit union members in recognition of shared values, achievements, and a vision for the future.
1970: Building Global Connections
The momentum continued with the establishment of the National Credit Union Administration (NCUA) and the World Council of Credit Unions in 1970. These organizations foster greater collaboration, ensuring safer, stronger, and more inclusive financial services for people everywhere.
2025: A Global Movement
Today, there are more than 411 million credit union members worldwide—evidence of the movement’s enduring appeal and positive impact. Credit unions empower individuals to achieve financial wellbeing and strengthen communities through inclusion, education, and support.
Join the Celebration
As we honor International Credit Union Day, let’s remember the milestones that brought us here. Credit unions—no matter where they’re located—have always been about people working together, lifting each other up, and building a better future for all. Whether you’re a lifelong member or new to the community, take a moment to celebrate the difference credit unions make, today and every day.
Happy International Credit Union Day from Great Lakes Credit Union!
