Local credit union to take part in ICU Day
Jeff Waite, Gospel Mission Food Pantry, at left, and Doug Ankrom, Riverview Credit Union stand with donations from the 2019 Food Drive.
On Oct. 15, Riverview Credit Union will join with credit unions around the world for the annual celebration of International Credit Union (ICU) Day®. The purpose of this celebration is to raise awareness about the extensive work that credit unions are doing around the world. It also provides credit union members the opportunity to get more engaged with their credit union.
The theme for this year’s celebration is “Inspiring hope for a global community.”
“The COVID-19 pandemic this year has disrupted the lives of many people, not just in our local communities, but all around the world,” said Doug Ankrom, Riverview’s President and CEO. “Throughout this challenging period, Riverview and other credit unions stayed true to their cooperative principles and stepped up to help those who needed it during this time of great uncertainty.”
Ankrom continued, “Our participation in the annual ICU Day celebration allows us to showcase how members and non-members alike can turn to Riverview for financial services and guidance every day, or to obtain assistance when they experience an unexpected financial hardship or disaster.”
Due to the ongoing COVID-19 restrictions, this year’s celebration will be structured to create as safe of an environment as possible for our members, guests, and staff. The public is invited to check out Riverview’s social media pages throughout the day on Thursday, October 15 to learn more about credit union membership and register for free giveaways. A free carryout lunch from local food vendors will be available at both the Marietta and Belpre offices beginning at 11:30 a.m.
Riverview also will conduct its 6th Annual Food Drive to support the Gospel Mission Food Pantry located in Marietta. During the entire month of October, the public may drop off food and other necessities or make a monetary donation at any Riverview location. Contact-free curbside drop off will be available for those who prefer not to enter the office.
While ICU Day has been observed on the third Thursday of October annually since 1948, the first credit union can be traced back to the 1840s when a democratic consumer cooperative was formed by weavers in Rochdale, England. Today, there are over 260 million credit union members around the world – more than 100 million in the U.S. alone.
“Credit unions offer virtually the same products and services as other financial institutions, but we operate under a different philosophy,” added Ankrom. “At the most basic level, a credit union is a group of people pooling their money to provide each other with affordable loans – it’s literally people helping people. Plus, credit unions are owned by the members, not shareholders, so the money stays in the local communities.”
Credit unions are not-for-profit financial cooperatives guided by nine core principles, including democratic control, social responsibility, and returning all profits to members. In many parts of the world, people’s first taste of democracy is through their credit union, where “one member, one vote” is the governing structure.