Credit Union (CU) is composed of two words, Credo which mean Trust and Union which mean meaningful Association. In the Indonesian language, can be regarded as “Usaha Bersama Simpan Pinjam (UBSP)” is a group of people who trust each other and agreed to work together to save money within the group. Then the money was loaned between CU members themselves for the purpose of earning and improving welfare.
CU is expected to improve the economic conditions of members through loans to the members at low interest rate, increase savings and enhance the ability of members for using the money appropriately and wisely; increasing personal capability by encouraging sense of responsibility and trustworthiness, foster self-esteem and confidence in their self and they are free to determine their own lives; and also promoting the development of social capital with emphasis on the common interests of all members and the public, and to cooperate in efforts to solve the economic problems.
With efforts to increase revenues, it is expected to run coincided with increased knowledge and awareness of the community to actively participate in maintaining and protecting the resource in order to be guaranteed their economic sustainability.
The Principles that should be built in the CU are Openness, Trust and Togetherness. With openness to all matters concerning finance at CU, is expected to rise to the belief, which will develop into togetherness.
Credit Union (CU) is a forum to build community economic empowerment. FIELD make CU a media group with community empowerment through education and community capacity building. CU group not only talking about money, but various activities and discussions in response to a variety of problems. CU form is then become an attractive option to be combined with economic empowerment.
This post is also available in: Indonesian