Proclamation No. 470, s. 1965

MALACANANG RESIDENCE OF THE PRESIDENT OF THE PFIILIPPINES MANILA' BY THE PRESIDENT OF THE PHILiPPINES PROCLAMATION. No. 470 DECLARING THURSDAY, OCTOBER 21, 1965, AS CREDIT UNION DAY. WHEREAS, the Credit Union Movement is now in its second century pi service; WHEREAS, credit unions provide an invaluable means whereby people may pool their savi:ngs and assist them­ selves to fill their needs for credit at a low cost ; WHEREAS, credit unions have proved an effective and . versatile tool for combating usury and unfair credit prac­ 'tiCes and hi encouraging' thrift and savings; and WHEREAS, these credit unions not only promote the , economic security of their' members, but also strengthen 'deinocr~'cy, encourage individualtesponsibility and, the . practice of true brotherhood and thus benefit' our country ; Now, THEREFORE, I, Diosdado Macapagal, President; of :. the Philippines, by virtue of the powers vested in . me I.! by law, do hereby declare Thursday, October 21, 1965, as Credit Union Day tobe observed all over the Philippines, I urge our people to give fitting recognition to the many benefits brought to them through credit unions. IN WITNESS WHEREOF, I· have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed. . Done in the City of Manila, this 10th day of October, in the year of Our Lord, nineteen hundred and sixty-five. [SEAL] DIOSDADO MACAPAGAL President of the Philippines By the President: SALVADOR L. MARINO Acting Executive Secretary