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International Credit Union (ICU) Day
October 21, 2021

Celebrating the Spirit of the Credit Union Movement

On Thursday, October 21, 2021, credit unions around the world will commemorate the 73rd anniversary of ICU day. SMCU is proud to be part of the celebration, joining more than 57,000 credit unions serving 274 million members in 105 countries.

This year’s theme—Building Financial Health for a Brighter Tomorrow—reflects the emphasis SMCU has always placed on financial education. We recognize that greater knowledge about money management means better decisions that will last a lifetime. That’s why we dedicate fulltime resources to ensuring that our communities have the financial education they need to light the way to a brighter future.

Help others by using your SMCU debit or credit card on ICU Day

In keeping with this spirit of community service, we are encouraging SMCU members to use their debit or credit card on ICU Day to help feed the hungry. For every completed transaction made on October 21, 2021, SMCU will donate $0.25 to Second Harvest of Silicon Valley. Simply by using your card, you can help ensure that those in need—from kids to families to seniors—have access to nutritious food.

 To learn more about how Second Harvest is putting an end to hunger, visit shfb.org.

To find out how credit unions enrich the lives of member-owners, stop by one of our branches on October 21 and join our ICU Day celebration. We’ll be offering light refreshments and a special contest, so be sure to stop by for facts, fun, and giveaways to celebrate the day. Keep reading for a chance to enter our trivia contest from the comfort of your home for a chance to win a $100 Visa gift card.

History of credit unions:

  • Did you know the credit union movement actually started quite a long time ago in England in 1844?

    A group of weavers sold shares to raise the capital necessary to buy goods at lower-than-retail prices and then sold the goods at a savings to members. The credit union movement then spread to Germany where Friedrich Wilhelm Raiffeisen established a credit

  • President Roosevelt signs FCU Act to help make credit available to more Americans, FDR and his administration looked toward the idea of cooperative financial institutions. In June 1934, President Roosevelt signed the Federal Credit Union Act, enabling federally chartered credit unions in all states. That August, Claude R. Orchard assumed federal credit union leadership and held supervision responsibility until 1953, when J. Dean Gannon was named director of the Bureau of Federal Credit Unions. 

  • By 1960, credit union membership amounted to more than 6 million individuals belonging to more than 10,000 federal credit unions. Founded in 1952, San Mateo Credit Union was one of them, being formed by county employees of San Mateo county. 

  • As your credit union joins in this unique and exciting celebration, remember that you are joined by more than 274 million members in 118 countries who also recognize and celebrate the credit union difference!

Now that you’ve learned all these fantastic facts about credit unions, take part in our trivia contest below and be entered to win a $100 Visa gift card.

*Indicates a required field
*Credit Unions evolved from the cooperative activities of early 19th century Europe.

*President Roosevelt signed the Federal Credit Union Act in 1934 to promote thriftiness and prevent usury during the Great Depression.

*Credit Unions have grown over the years and currently exist in:



*San Mateo Credit Union was originally formed in 1952 by: *





 

*Promotion subject to change. SMCU will donate $0.25 to Second Harvest of Silicon Valley food bank for each card transaction performed by SMCU Members. Program details are effective on 10/21/2021. Purchases with an SMCU card are not tax deductible. Visa debit and credit card purchases only. ATM withdrawals, transfers and business account transaction excluded.

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