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True Story: Celebrating International Credit Union Day

International Credit Union Day is Thursday, October 19th.  And, yes, while it does seem like there is a day designated for everything nowadays, this day allows us to reflect upon the credit union movement’s history and share member experiences. We take pride in being a credit union, also known as a not-for-profit financial cooperative. Recently, there has been a debate among some industry leaders regarding the use of the phrase “credit union.” Market research has shown that the credit union name is confusing to a majority of American consumers as they may not understand what exactly a credit union is, and if they are eligible to join. This has caused some concern as credit unions utilize resources to educate consumers on what a credit union is and what it can do for you. By celebrating International Credit Union Day, organizations across the globe are able to educate members and the community alike on the purpose of a credit union.

The FORUM team doesn’t get too caught up in the naming conventions as we simply strive to take care of our 145,000 members. We believe that if we do an exceptional job in taking care of you, the rest will take care of itself. We take pride in our history and the Indiana Bell Telephone Company volunteers who started the credit union, originally known as Hoosier Federal Credit Union, in 1941. While our name has evolved over the years to be Indiana Telco Federal Credit Union, Indiana Telco Credit Union, and today’s FORUM Credit Union, there are two important things that haven’t changed during our 76-year history. First, our ownership has stayed the same as we are owned by you, our members. Second, our purpose for being established, to help members live their financial dreams. Sure, the dreams may have changed over time, but our support to help our members live their financial dreams has stayed constant. In 1941, the volunteers who founded the Credit Union had dreams of low cost, small unsecured loans, and a fair dividend on savings accounts for the membership. Today, those dreams still resonate along with visions of owning a home, purchasing a car, funding college education, and saving for retirement.

With that being said, this year’s International Credit Union Day theme is “Dreams Thrive Here.” And, while we wish we could take credit for this celebration, it still seemed appropriate to write about this topic and share this information with you. Credit unions across the world are making a difference every day for their members and communities. Here at FORUM, we have a team of 360 employees who want to make a difference for you and our community, so please let us know what we can do to help you live your financial dreams. We appreciate your membership and ownership of FORUM Credit Union.

See how you can take part in the celebration here.


Posted: 9/29/2017 with 0 comments

Categories: community, Education, FORUM Services, Special Offers



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