There are seven days of Kwanzaa, from December 26th to January 1st, each day representing a different principle in preparation for the new year. I want to call attention to the fourth day of Kwanzaa, Ujamaa, a Swahili word meaning unity and people supporting each other, commonly referred to as “cooperative economics.”

The symbol of Ujamaa are two intersecting half circles representing togetherness and family. The essence of Ujamaa is the idea of being self-reliant, the people of a community owning and operating the economic system that supports the community. Who knows the needs of the community better than the people of the community? Through economic cooperation, people working together, the community can harness its resources and put them to the best possible use in service of the community. In this model the people determine their economic and social policies and are responsible for meeting the day to day needs of its community members while simultaneously planning for the community’s future needs.

Ujamaa also encompasses the concept of “shared social wealth,” in which social wealth belongs to the masses of people who created it and no one person should have an unequal amount of wealth, understanding that the unequal accumulation of wealth can lead to exploitation, oppression and inequality.  The accumulation of wealth is not a bad thing, however President Julius Nyerere of Tanzania shared that Ujamaa is "a commitment to the belief that there are more important things in life than the amassing of riches, and that if the pursuit of wealth clashes with things like human dignity and social equality, then the latter will be given priority."

Which leads to the last concept in Ujamaa the “obligation of generosity” especially to the poor and vulnerable. At the core of this concept is the fact that at some point we all struggle and need some assistance or help to on our feet. Together, as a collective community, we should help those in our community who have fallen, so they can again be contributing members of our community, and therefore be in a position to help someone else in the future.

Do these concepts sound familiar? I see a clear through line between Kwanzaa’s principle of Ujamaa and the cooperative principles of credit unions, specifically:

DEMOCRATIC MEMBER CONTROL

Credit unions are democratic organizations owned and controlled by their Members. Each Member gets one vote, no matter their financial status, to help make the organization’s policies and decisions.

MEMBER ECONOMIC PARTICIPATION

Members are the owners of their credit union and contribute to its capital. Members, not shareholders, benefit from their credit union’s profits in proportion to their relationship and use of its products and services.

AUTONOMY & INDEPENDENCE

Credit unions are independent, self-reliant organizations controlled by their Member-owners, not outside stockholders. When making business deals or raising money, credit unions never compromise their autonomy or democratic Member control.

CONCERN FOR COMMUNITY

While focusing on Member needs, credit unions work for the sustainable development of communities, including people of modest means, through policies developed and accepted by the Members.

If you believe in the cooperative principles of credit unions and our universal mantra of “people helping people,” then your values align with the Kwanzaa principle of Ujamaa. As you celebrate this holiday season with family, friends and colleagues, remember Ujamaa and support a local business that supportsyour community. They need you and we need them. People helping people.

Happy Kwanzaa.

Kevin J. Martin

This article includes multiple excerpts from the Official Kwanzaa Website and the National Credit Union Foundation.