International Credit Union Day celebrated around the world

Credit unions around the world, including in Kenya, have joined in celebrating the 77th International Credit Union (ICU) Day, marked annually on the third Thursday of October.

This year’s theme, “Cooperation for a Prosperous World,” echoes the United Nations’ 2025 declaration of the International Year of Cooperatives, which carries the broader theme “Cooperatives Build a Better World.”

Since its inception in 1948, ICU Day has provided a moment for credit unions and cooperative financial institutions to reflect on their shared history, celebrate achievements, recognize the tireless work of staff and volunteers, and share the stories of how they empower their members and communities.

The World Council of Credit Unions (WOCCU) and the Worldwide Foundation for Credit Unions (WFCU) emphasized that this year’s theme highlights the growing importance of cooperative finance in addressing global challenges and advancing inclusive economic development.

In a statement, the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) the 77th anniversary of International Credit Union Day is celebrated by honouring the power of people helping people a movement that continues to transform lives, strengthen communities, and drive inclusive growth across Africa and the world.

The global credit union movement now includes more than 74,000 credit unions, serving over 411 million members in 104 countries, according to WOCCU data.

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In June 2024, the United Nations General Assembly officially declared 2025 as the International Year of Cooperatives, recognizing the essential role that cooperatives play in promoting social and economic development.

Kenya remains a leader in cooperative development. Daniel Marube, CEO of the Cooperative Alliance of Kenya (CAK), noted that the sector directly and indirectly employs over 750,000 Kenyans and continues to play a vital role in housing, youth and women empowerment, job creation, and enterprise development.

He stated that cooperatives are the engine of inclusive growth. Marube said. “They’ve allowed millions to access credit, build businesses, and change their lives.”

Kenya is home to more than 25,000 registered cooperative societies, with a combined membership exceeding 14 million people. The sector has mobilized savings estimated between Ksh 680 billion and Ksh 732 billion, and boasts a total asset base of approximately Ksh1 to 1.5 trillion.

As cooperatives and credit unions across the globe celebrate this milestone, the message remains clear: cooperation is not just a principle it’s a pathway to prosperity.

By Obegi Malack

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