Credit Union Philosophy and the Cooperative Culture

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Credit Union Philosophy and the Cooperative Culture
2014-07-23 19:58:56
CU PHILOSOPHY coop culture CMS

Study guide for Credit Union Philosophy and the Cooperative Culture
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  1. F. Hermann Schulze-Delitzch
    Promoted co-op societies in Germany in the 1840s.
  2. F. Hermann Schulze-Delitzch
    Once stated "all for one and each for all should be your motto...Your own selves and character must create your credit"
  3. Friedrich W. Raiffeisen
    Known as the father of the credit union movement
  4. Friedrich W. Raiffeisen
    Once stated "Credit unions are not merely financial institutions.  They should educate their members."
  5. Louise McCarren Herring
    Known as the mother of the credit union movement having organized more than 500 credit unions.
  6. Louise McCarren Herring
    Once stated "we have to remember never to lose the personal touch or willingness to help our members."
  7. Edward Filene
    A Boston Merchant and founder of the US credit union movement
  8. Edward Filene
    Once stated "We can get 10 times more results if we let the world know what the credit union has and is accomplishing."
  9. Roy F Bergengren
    A lawyer, candy maker and US organizer
  10. Roy F Bergengren
    Once stated "As soon as the motivation for profit is substituted for the motivation of service, the credit union ceases to have justification."
  11. Roy F Bergengren
    • Definition of a credit union includes:
    • 1. Promoting thrift among members of the group
    • 2. Educating members in matters having to do with the management and control of money
    • 3. Creating Credit resources for members at legitimate rates of interest.
  12. What are the 7 cooperative principles?

    (Vicki Made Credit Cards)
    • 1. Voluntary and Open Membership
    • 2. Democratic Member Control
    • 3. Members' Economic Participation
    • 4. Autonomy and Independence
    • 5. Education, Training and Information
    • 6. Cooperation among Cooperatives
    • 7. Concern for Community
  13. Cooperatives trace the roots of the 7 principles to the first modern cooperative founded where and when?
    Rochdale England in 1844
  14. Do Cooperatives around the world generally operate according to the same core principles and values?
  15. When were the cooperative principles and values adopted by the International Co-operative alliance?
    In 1995
  16. The hierarchy of the credit Union World Wide System (The 6 layers of the Credit Union Onion) - begin - center - out
    • Member
    • credit Union
    • chapter
    • State Credit Union League/ Association
    • CUNA / CUNA Mutual Group
    • World Council of Credit Unions