It’s International Credit Union Day on Thursday, October 15. It has been held on the 3rd Thursday in October for the past 72 years. Did you know there are 291 million credit union members worldwide? As we reflect on the role CCEC has played in our community and in our members’ lives, let’s share our experiences and invite our friends and family to join CCEC.
CCEC received its charter in 1976, 2 years after a group of people involved in daycare, consumer and housing co-operatives raised capital to support community economic development. They called their group the Community Congress for Economic Change Society. Our mandate was to serve groups that have been excluded from the economic mainstream - because they don't fit a banker's idea of a good credit risk - for example, the arts groups, immigrant organizations, housing co-operatives, and similar organizations that continue to be core of our membership. Loans were available to meet our members needs, and for community enterprises and community action. The founding members of CCEC described the loan process as "group solutions to individual problems." The local focus of the credit union saw the money reinvested within our community.
Some things haven't changed at CCEC over the past 44 years. We continue to be guided by the principles that are the foundation of CCEC. We also continue to ensure community input into the lending process by maintaining a credit committee elected from the membership. Also, many directors, credit committee members, and staff are active in community groups that make up our membership.
CCEC is a member-owned, community development organization that is powered by people, like you; in service of people like you. Let’s celebrate International Credit Union Day!