Credit Unions Celebrate History & Achievements, Continued Safety & Soundness

ALBANY, NY (10/14/2008)(readMedia)-- New York credit unions from Long Island to Buffalo are safe and secure as they celebrate International Credit Union Day Thursday, Oct. 16.

Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. This year's theme, "It Belongs to Me," underlines the cooperative spirit of credit unions.

For over a century, 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.

New York's 476 credit unions will mark the celebration with open houses, special promotions and a variety of community events.

"Credit unions give the best possible value to members while they support the communities they operate in," said William J. Mellin, president/CEO of the Credit Union Association of New York. "They provide savings, loans and other financial products while promoting thrift and the wise use of credit."

Credit unions were/are built on a one member/one vote model that provides members with a unique opportunity to experience democracy firsthand.

International Credit Union Week/Day provides an opportunity to remind us all that credit unions were founded not for profit, not for charity, but for service, and, that in these turbulent times, they should be recognized as well-capitalized, local cooperative financial institutions that produce positive economic and financial change.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 91 years. It is the fifth largest league in the country. New York credit unions have assets of more than $43 billion and 4.2 million members. To learn more about the Association, visit www.cuany.org.

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Editor's Note: High-resolution jpegs are available of the Credit Union Day logo and the Association logo embedded in the release. To request, please e-mail bonnie.sklar@cuany.org.