The United Nations has declared 2025 the International Year of Cooperatives, highlighting how cooperatives build a better world through their vital role in sustainable development, inclusive growth, and strengthening community resilience.
As not-for-profit cooperatives, credit unions are uniquely equipped to foster financial well-being for all through their adherence to the seven Cooperative Principles originally adopted by The International Cooperative Alliance and an emerging eighth cooperative principle set by the National Credit Union Foundation and America's Credit Unions.
This month, let's learn more about Cooperative Principle #6, Cooperation Among Cooperatives, and how credit unions live out that principle daily!
The National Credit Union Foundation defines this principle as the following:
Credit unions serve their members most effectively and strengthen the cooperative principles by working with other cooperatives through local, state, regional, national, and international structures.
This sixth principle serves as a practical demonstration of the cooperative value of solidarity. It distinguishes cooperatives from other more competitive business models. The dedication to cooperation among cooperatives is the defining characteristic of cooperative enterprises, reflecting their collective ambition to foster a more sustainable and equitable economic future for all.
Cooperation is achieved in large part through collaboration. By uniting their efforts, cooperatives can leverage shared expertise, scale, and resources, enhancing awareness, sustainability, and impact, especially in areas where fixed costs can be distributed.
Within The Credit Union Movement, cross-cooperative collaboration looks like networking, strategizing, hosting education and training opportunities, and uniting on advocacy efforts through organizations like The Wisconsin Credit Union League, America’s Credit Unions, and the World Council of Credit Unions, to name a few. But cooperation among cooperatives also means collaborating across industry lines with other cooperatives, through groups like The Cooperative Network and the National Cooperative Business Association.
As not-for-profit financial cooperatives focused on fostering financial well-being for all, credit unions reflect these time-honored Principles that have built the bedrock for their success and member success. Stay tuned as we continue to celebrate the Cooperative Principles throughout 2025!