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October 24, 2017

10/12/2017 7:24:00 AM
Ripco Credit Union to celebrate 85th anniversary on International Credit Union Day

On Oct. 19, credit union members around the world will celebrate International Credit Union Day, an annual event to commemorate the credit union movement's impact and achievements. In honor of this special day, Ripco Credit Union members and the entire community are invited to visit either the Rhinelander or Eagle River location to celebrate and enjoy gifts, refreshments and prize drawings, Ripco officials said in a press release.

"This year's International Credit Union Day celebration will have even more meaning for Ripco members, because it will also be the day the credit union marks its 85-year anniversary," the release states. "In acknowledgement of this milestone, Kim Santos, the Director of the Office of Credit Unions/Wisconsin Department of Financial Institutions, will be an honored guest. Her visit is planned for approximately 1 p.m. Other local dignitaries including Wisconsin State Representative Rob Swearingen, Rhinelander Mayor Richard Johns, Ripco's first full-time employee and former president Bucky Reed, and several retired former Ripco Board Directors are expected to stop by as well."

Ripco obtained its state charter in 1932, and was originally established to serve employees of the Rhinelander Paper Company and of Ripco Credit Union, and their immediate families. The name "Ripco" is an acronym for Rhinelander Industrial Paper Company. In 1972, Ripco became a community-chartered credit union and now serves the seven Wisconsin counties of Oneida, Vilas, Forest, Florence, Langlade, Lincoln and Price.

Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for 235 million members in 100 countries worldwide. Worldwide, 68,000 credit unions exist to serve their members, providing a safe place to save money and access affordable loans.

Here in Wisconsin, according to a Sept. 30, 2017 post on jsonline.com "More consumers have been opening accounts with credit unions in Wisconsin over the past decade, pushing credit union membership in the state past the 3 million mark for the first time. The number of credit union members is up more than 40% in Wisconsin since 2007 - growth that has occurred despite a sharp decrease in the actual number of credit unions."

Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. Each year, the international event affords the opportunity to remember credit unions' proud history and promote awareness of and support for the credit union difference, the release states. This year's theme, "Dreams Thrive Here" emphasizes how credit unions' positively impact their members' lives and goals, while at the same time contributing to the communities they serve.

For more information about Ripco Credit Union or Credit Union Day events, visit ripco.org or contact Ripco at 715-365-4800.





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