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Happy International Saving and Credit Day

October 15, 2020

 

International Saving and Credit cooperative day as it is referred as the International Credit Union (ICU) Day celebrates the spirit of the global saving and credit cooperatives movement. The day is recognized to reflect upon the saving and credit cooperative movement's history, promote its achievements, recognize hard work and share member experiences. International Saving and Credit cooperative Day has been celebrated on the third Thursday of October since 1948. Some record shows that, it was celebrated in 1923.

Each year the day is celebrated to raise awareness about what it means for members around the world to have a saving and credit cooperative as their financial partner. Due to Covid -19 as a health crisis of this year, the theme of the saving and credit cooperative day is “Inspiring hope for the global community”. The theme is selected because during the crisis SACCOS stayed true to their cooperative principles and stepped up during this time of economic uncertainty. And Hope is a global resource that everyone has a right to feel and experience. This year’s International Saving and Credit day theme reflects how credit unions contribute to a brighter future by providing financial empowerment to people all over the world through financial services, education and support.

Awach SACCOS as being part of the international cooperative community celebrates the International Saving and Credit day with different programs. As we celebrate this year’s International Saving and Credit day we would like to remind our members, the government of Ethiopia at all levels and the community at large that Cooperative are playing a vital role in the economic and social development of the country. The number of SACCOS in Ethiopia is increasing with an increasing member, savings and credit capacity. One of the best examples is Awach SACCOS. Awach SACCOS, until June 30, 2012 E.C. has 31,694 members (42% women and 55% youth), 958,030,282 birr assets, and has given loan amount of 1,177,583,026 birrs to 9438 members (3609 women and 5829 men) and as a result it has created a job opportunity for 21,840 individuals in Addis Ababa and in some part of the Oromiya region. In addition, the Cooperative is expanding its outreach services by opening ten branches in Addis Ababa and Oromia Special Zones.

As the ultimate goal of celebrating the International Saving and Credit day is to raise awareness about the tremendous work that Saving and credit cooperatives are doing around the world and give members the opportunity to get more engaged; We invite all our members to celebrate the day (October 15, 2020) in your own way together with the 274 million members in 118 countries of the world.