NAFCU Invites Credit Unions To Celebrate The International Year Of The Cooperatives

Posted: 2011-10-28 00:00:00


CONTACT: Patty Briotta
703-842-2820
pbriotta@nafcu.org

WASHINGTON – The National Association of Federal Credit Unions (NAFCU) is inviting credit unions to commemorate the International Year of Cooperatives 2012 (IYC), which kicks off Oct. 31 at the U.N. headquarters in New York.

The United Nations designated 2012 as the International Year of the Cooperatives to recognize the unique role cooperatives play in social and economic development. The theme for the celebration is “Cooperative Enterprises Build a Better World.”

“Credit unions are enjoying increased visibility as safe, convenient alternatives to big banks – making this a great time to highlight their cooperative nature,” said NAFCU President Fred Becker. “Credit unions’ solid business model—member-owned, not-for-profit institutions—is the key to why they are 93 million members strong and growing.”            

NAFCU is offering tips on how credit unions can celebrate IYC at www.nafcu.org/IYC2012. In addition, the National Cooperative Business Association, which NAFCU has joined with for U.S. efforts to commemorate IYC, is providing materials that cooperatives can use to promote the occasion. The toolkit includes ideas for recognizing IYC locally, including helpful documents such as an IYC fact sheet and customizable press release, and print and web materials featuring the IYC logo and slogan. 

“This is yet another way for credit unions to shine and showcase their membership in their local communities,” he added. “The online resources available can be used to help create an IYC celebration tailored to a credit union’s unique field of membership.”

For additional information about the International Year of the Cooperatives 2012, visit http://social.un.org/coopsyear/index.html.

NAFCU is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.  

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Oct13 Stock-holding is capitalist in tnaure, a practice which quickly reduces to a sort of degenerate greed. The co-op becomes a means for one, not for all.See, this is the sort of statement that makes Distributists look silly. Why does it make Distributists look silly? It does so by revealing that the person speaking has no idea what he is talking about. Stock holding is merely a legal device for recognizing the ownership structure of an artificial entity. A cooperative, if its organizers have any hope of doing anything with it, needs to be an artificial entity: it needs a legal structure under which people who have an ownership interest are distinguished from those who do not, and through which the first group of persons control its operation. Most American cooperative have members : being a member is almost precisely analogous to owning stock in a corporation, with the sole exception that membership is not a transferable interest and stock usually, but invariably, is. A corporation can be set up to be a cooperative. So could a limited-liability company, a limited partnership, a business trust, etc. One legal device no more inherently contributes to greed than any other. Nor should one make the original author's mistake and haphazardly redefine stock to mean the kind of stock you see talked about on MSNBC. Stock is not a synonym for publicly traded stock. If people are going to have an intelligent discussion, it will first be necessary to stop making up new definitions for words (e.g., using corporation to mean only publicly traded corporations or maybe even publicly traded corporations operated in a way I dislike ) and, furthermore, to stop treating the morally neutral cosmetic elements of various legal structures as some kind of bugabear (e.g., stock makes people greedy). You can read the Distributist Review until the cows come home, but if you still don't understand the basic principles of the law of business entities, you will continue to sound silly, no matter how valid the underlying concepts you attempt to defend.

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