Thursday, 18 October 2018

momma dollar and papa dollar

Observed in the third Thursday of October since 1948, International Credit Union Day recognising the importance of financial cooperatives globally in terms of advocacy, solidarity and engagement that’s not shared and often undercut by banks and traditional for-profit institutions.
Sponsored by the World Council of Credit Unions, the timing could be in approximate deference to nineteenth century German statesman and economist Franz Hermann Schulze-Delitzch’s (previously) departure from the Prussian National Assembly in October 1851 to devote his time and energy to the foundation and development of people’s banks (Vorschussvereine). By the time of his death in April of 1883, there were over three thousand branches across the Germany Empire, Russia, Austria, Belgium and Italy.