Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Popes financial crisis encyclical cites CUs love
MADISON, Wis. (7/10/09)--Love and credit unions function in the same manner, said Pope Benedict XVI Tuesday in his third encyclical, “Charity in Truth,” which focused on the economy, business and finance. “If love is wise, it can find ways of working in accordance with provident and just expediency, as is illustrated in significant ways by much of the experience of credit unions,” he wrote (The Wall Street Journal Blogs July 9). The encyclical is widely seen as being directed at G-8 world leaders gathering in Italy this week. The Pope speaks about the need to use the economy to help the poor and care for the environment. He also supports globalization as a way to lessen poverty, and he supports the idea of a free market. The pope is from Germany, where the first credit society in the world was established in 1849 by Frederick Raiffeisen, the mayor of a small town. Raiffeisen devised a credit society to help people help themselves instead of relying on charity from land barons. In 1852, Raiffeisen and Hermann Schulze-Delitzsch established the first true credit unions in Germany (Credit Union National Association).
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
3 minutes ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
16 minutes ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
2 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
2 hours ago