It seems like there is a holiday for every occasion. There’s “International Talk Like A Pirate Day,” “Square Root Day“ “No Pants Day.” And Thursday, Oct. 15, just happens to be International Credit Union Day. Here’s why you should be celebrating …

The history of credit unions began in 1844 with a group of weavers in Rochdale, England. From there, the idea of a financial cooperative spread to Germany, Canada and the United States. Today there are 52 credit unions in Arizona serving more than 1.6 million members. That’s about 25% of the state’s population.

Enough with the history lesson. What matters is that more than 160 years later, and especially in light of today’s “Great Recession,” credit unions are more viable than ever. Here’s why you should be banking with a credit union:

• Saving you money – Credit unions help their members save money by offering lower loan rates, better deposit rates and fewer fees than other banking institutions. In fact in 2008 alone, Arizona’s credit unions saved their members nearly $190 million in direct financial benefits, which equals a savings of $229 per member household.*
• Money to lend – Despite the ongoing “credit crunch,” Arizona’s credit unions have money to lend for vehicle loans, mortgages, home equity loans and more.
• Locally owned & operated – The money we lend and hold in deposits typically stays in Arizona, which helps fuel our local economies.
• Member owned – When you join a credit union, you’re also an owner. As financial cooperative, credit unions are dedicated to serving their members, most of whom live here in Arizona, not stockholders or other outside interests located in other parts of the country.
• Helping small businesses succeed – Small businesses continue to be the lifeblood of our economy. Many local credit unions offer a full-range of business financial services to help fuel their success.
• Personal Service – While quality of service can vary from institution to institution, credit unions consistently score higher than their banking counterparts. The American Customer Satisfaction Index for fourth quarter 2008 scored banks a 75 while credit unions towered with an 84.

Let’s face it, most of us have multiple banking relationships. We may use one institution for our checking account and another for our auto or home loan. Why not simplify your life, save some money, and help the local economy all at once? Make the switch to your local credit union. You’ll be glad you did, but please, leave your pants on when you visit your friendly neighborhood credit union branch. [Comment]

* Source: Datatrac, National Credit Union Administration and Credit Union National Association.

David Kexel is the Vice President of Marketing & Business Development for Arizona Central Credit Union, where he has worked since 1999. He has 12 years of experience in financial services marketing and has lived in Arizona for 21 years.