They come in many sizes and levels of sophistication, and they operate under different names. But credit unions around the world have one thing in common—they put members first.
In 2010, nearly 53,000 credit unions in 100 countries served 188 million people, according to the World Council of Credit Unions (WOCCU). Those numbers keep growing as more people understand the strength and capabilities of financial cooperatives, owned and operated by members.
During Credit Union Week, these diverse institutions take time to recognize the positive impact of credit unions on the lives of individuals, families, communities, and countries.
They’re called caisse populaires in Haiti, Islamic investment and finance cooperatives in Afghanistan, and savings and credit cooperatives (SACCO) in Africa. Whatever the name, the goals remain the same—to build a better world for the people they serve.
No matter where they’re located, credit unions provide an affordable alternative to other financial institutions and a social and economic lifeline to their members.