Along with access to highly competitive products and services, one of the benefits of being a credit union member is the say you have in the direction of the credit union. That’s because every credit union member is entitled to vote at the organization’s annual general meeting as part of the principle of Democratic Member Control, one of the Seven International Co-operative Principles.
Democratic member control is one of the reasons members can be assured that their credit union will work in the best interests of them and their community. It’s also one of the reasons why countless Canadians will celebrate the 100th anniversary of Canada’s co-operative movement in 2009.
The first national co-operative association, the Co-operative Union of Canada (CUC), was formed in Hamilton, Ontario on March 6, 1909. The organization was one of the forerunners of the modern Canadian Co-operative Association (CCA).
Today, there are roughly 8,800 co-operatives and credit unions across the country. Together they have more than 17 million memberships, over $275 billion in assets and employ more than 150,000 people.
Co-operatives of all shapes and sizes have helped members through good times and bad over the course of the past 100 years, and are stronger than ever as they move into the next 100.
Certainly, good reason to celebrate.