MADISON, Wis. (6/26/14)--On June 26, 1934, exactly 80 years ago today, President Franklin D. Roosevelt signed the Federal Credit Union Act into law, solidifying the growing movement of member-owned, not-for-profit financial institutions.
The act promoted thrift in the United States and established a national system of credit unions that could be chartered under state or federal law. (See related story: CUNA's Hampel: CUs mark 80 years of dedicated member service under FCU Act.)
|Spokane FCU created fun photos to celebrate the 80th anniversary of the Federal Credit Union Act as part of a Northwest Credit Union Association social media contest. (Spokane FCU photos)
Credit unions and leagues will take to social media today, among other planned events, to celebrate and remind their employees and members of that important day for the ongoing credit union movement.
The Credit Union National Association--capitalizing on the fact that Thursdays in the social media universe are called "Throwback Thursdays," where people post items about anything pertaining to the past--is encouraging credit unions and leagues to post old photos, such as photos of original branches or headquarters, in honor of the day.
Leagues and credit unions participating also will be tacking on the hashtags: #throwbackthursday, #TBT and #FCUA80 to social media posts on Twitter, Instagram, Facebook and Google+.
Meanwhile, the Northwest Credit Union Association (NWCUA) held a contest for credit unions to send in photos they felt commemorated the day--the winners of which would be awarded tickets to a gala in Spokane City, Wash.
In response, Spokane (Wash.) FCU, with $131 million assets, turned to its own Facebook page to ask its members which of the photos it created was best, including one of Roosevelt sitting at the table signing the act with a party hat on.
The credit union also is hosting a party today in the lobby of its main branch, where it will serve coffee and treats. Those who pop through the drive-up window also will be surprised with treats.
The NWCUA encourages credit unions signing on to social media to use the hashtag #CUAnniversary80.
"Social media is a great venue for raising awareness, and we thought this would a fun, interactive way of engaging members of credit unions," the league said (