ALBANY, NY (10/14/2010)(readMedia)-- On Thursday, Oct. 21, credit unions throughout the state will celebrate International Credit Union Day. As they do, they will honor the unique service credit unions provide and the many ways their communities have benefited from the credit union difference. They will also be commemorating the history and achievements of the credit union movement.

New York's 443 credit unions will mark the celebration with open houses, contests, rate specials, and a variety of community events.

Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for more than 4.4 million members in New York State. In their hundred-plus-year history, member-owned credit unions have made the impossible, possible-they have found ways to improve the financial picture for those who stood little chance of gaining credit elsewhere. They provide their members access to affordable loans and a safe place to save their money.

This year's theme, Local. Trusted. Serving you.™, underlines the commitment credit unions have to their communities and their trustworthy service to members from all walks of life.

Operating with the daily philosophy of "people helping people," the state's credit unions are involved in and/or sponsor worthwhile community activities throughout the year. They offer a college scholarship competition through the Credit Union Association of New York; seek donations of books, toys, videos and cash for local children's charities as part of "Credit Unions Care for Kids" program, and participate in countless other programs to help their neighbors and their communities.

To see highlights of the impact made by New York credit unions in seven key areas: adult financial education, community investment and outreach, customized products and services, financial counseling, immigrant outreach, Volunteer Income Tax Assistance (VITA), and youth financial information, you can view the MORE report at https://www.cuany.org/access_files/outreach/2009_MORE_Report_FINAL.pdf. The MORE Report is part of the Association's ongoing Member Outreach and Reinvestment Endeavor (MORE) program.

As with other financial institutions, credit unions are regulated by state and federal agencies. Funds deposited by credit union members are insured by the National Credit Union Administration up to $250,000.

Today, 92 million members belong to more than 7,500 not-for-profit, cooperative credit unions nationwide. For information on joining a credit union, or to learn more about their history, go to www.creditunionsFORYOU.com.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 93 years. New York credit unions have assets of more than $50 billion and 4.4 million members. To learn more about the Association, visit www.cuany.org.

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Posted Thursday October 14, 2010 at 12:16 pm by Credit Union Association of New York
Last Updated Friday October 15, 2010 at 08:52 am