Since 1948, International Credit Union Day has been celebrated by thousands of credit unions on the third Thursday of October. This special occasion is being marked today (October 20) and Coast Capital Savings president and CEO Don Coulter shared his reflections on the day, its importance and what it means to our members
What does International Credit Union Day mean for Coast Capital Savings?
This is a time to reflect on our credit union roots dating back 76 years in BC, and how this inspires everything we do as an organization.
In the 1940s when money was hard to come by, groups of credit union pioneers on Vancouver Island, Richmond and Surrey formed small financial co-ops to offer their neighbours and colleagues the financial help they needed to better their lives, and support their local communities.
These legacy credit unions, which would later contribute their DNA to Coast Capital Savings, were diverse groups of everyday British Columbians – farmers, fishers, meat packers, military and factory workers, telephone and civic employees, parish congregations, white collar professionals and everyday citizens. With moxie and a determination to make a positive change, these groups found innovative ways to pool their resources and provided their members with much needed financial help to become successful.
It’s an inspiring story and one we need to remember on International Credit Union Day.
In what ways have credit union values contributed to Coast Capital’s success?
They are at the very heart of who we are as a credit union. Credit unions around the world recognize several cooperative principles, including democratic control, service to members, building financial stability, collaboration among cooperatives, social responsibility, and member education. Our growth over the years, and our strong appeal to members, have everything to do with these cooperative principles and values.
How do we get the message of International Credit Union Day to more Canadians?
Credit unions are making more Canadians aware of what they offer—a real difference from banking as usual. At Coast Capital, we do this every day by offering helpful products and services to improve the financial well-being of our members and contributing to a foundation from which the communities we serve can grow and prosper. We will continue to advance the benefits of belonging to a credit union, and through our delivery of simple financial share how credit unions are making a positive contribution in the lives and the communities of Canadians.
Find out more about International Credit Union Day.