Celebrating International Credit Union Day

17 October 2024

International Credit Union Day has been celebrated every October since 1948, honouring the ways credit unions improve the lives of their members worldwide.

It’s a special day when the entire credit union movement comes together to share the benefits of the not-for-profit model—putting people over profits, so members, like our members at Illawarra Credit Union, can keep more of their money.

This year, we celebrate 76 years under the theme "One World Through Cooperative Finance," highlighting how credit unions continue to promote financial inclusion and strengthen communities globally. With over 403 million members in 98 countries, credit unions remain committed to empowering individuals and building a brighter financial future for all.

To celebrate this special day, we’d like to share with you the stories of two individuals that have close links with us here are ICU. One of our very early members, Terry shares with us why he’s remained loyal to us for over 47 years. And, one of our dedicated employees, Anthony Tosunovski, shares how he takes great delight in servicing and supporting our valued members.

Meet Terry, a member since 1977.

In October of 1977, Terry made a decision that would shape his financial future for decades to come. While working at the Appin Colliery, a recruiter visited his workplace, introducing the concept of credit unions.

Intrigued by the promise of a community-oriented financial institution, Terry thought it was a good idea and decided to join Illawarra Credit Union (ICU). Little did he know that this choice would lead to a remarkable 47-year relationship filled with trust, support, and lasting memories.

Over the years, what kept Terry loyal to ICU was not just its array of financial products but the exceptional service and friendly staff that made him feel valued. “The quality of the staff has always been outstanding,” he recalls, fondly remembering the countless interactions that transformed banking from a mundane task into a pleasant experience. Every visit to my local credit union was met with warm smiles and genuine concern for his needs, fostering a sense of belonging that he cherished.

As the years went by, Terry noticed how ICU evolved, adapting its products and services to better meet the needs of its members. The approach was always personal; the staff were not just employees but became like friends, always ready to assist him through any financial challenge he faced.

“They always worked to solve my problems, no matter how big or small.”

Reflecting on what makes ICU unique compared to other financial institutions he has encountered, Terry emphasises the personal touch. “Quality, friendly service staff that genuinely care and who are members of our local community” he sums up, capturing the essence of what he appreciates most. Over the years, being with ICU has had a profound impact on his financial wellbeing. He felt well looked after and guided in the right direction, which allowed him to navigate his financial journey with confidence.

In every story, there are moments that define relationships, and for Terry, his journey with Illawarra Credit Union has been long lasting. With every visit and every interaction, he knows he found not just a financial institution, but a true financial friend.

Meet Anthony Tosunovski, or Tos as he’s known.

Tos spent 23 years at a major bank. Then, he made a pivotal career decision and joined Illawarra Credit Union. For him, the shift from a corporate banking environment to a member-focused institution was enlightening. What drew him most to ICU was the structure of credit unions themselves. “What I like about credit unions is that they’re member-owned,” Anthony explained. “All profits are returned to members in the form of lower fees and better rates.” This member-centered approach, along with the personalised service ICU offered, was something Anthony found most gratifying.

At ICU, he discovered a more personal way of banking. “We can focus on each member individually, providing a tailored service that really enhances the overall experience,” he said. The strong community focus also stood out to him, as ICU was deeply rooted in supporting the people it served.

Reflecting on his time at ICU, Anthony found it difficult to pinpoint just one particular experience that stood out as his most memorable. Instead, he highlighted the opportunity to provide exceptional service across various channels, including lending and everyday banking.

“Being able to introduce new digital experiences to our members while still making them feel valued has been incredibly rewarding,” he noted.

Since joining ICU, Anthony had witnessed significant changes, with technological advancements leading the way. “Technology has definitely advanced, and we’ve also strengthened our influence within the community,” he observed. These developments have transformed ICU’s operations, enhancing both member engagement and service delivery.

For newcomers to ICU, Anthony’s advice was simple: “Embrace the culture and the vision. Be adaptable because credit unions are always trying to stay ahead of the curve. Building relationships is key.”

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