In a recent visit to Lima and Cuzco, Peru the Association of Vermont Credit Unions (AVCU) signed an international partnership agreement with the Federacion Nacional de Cooperativas de Ahorro y Credito del Peru (FENACREP). Those signing the agreement were Joe Bergeron, President of AVCU, Manuel Rabines, CEO of FENACREP, John Benoit, AVCU Board Chairman, Jorge Zevallos Carpio, FENACREP Chairman, and Victor Corro, WOCCU's international partnerships manager.
The partnership is through the World Council of Credit Union's (WOCCU) International Partnerships Program. The signing of the agreement was the payoff after two years of preparation between the two credit union movements. The trip was a follow-up to Peru's visit to Vermont last November.
In addition to the signing, AVCU also made a special appearance in front of the Cooperative Committee of Peru's National Congress where Bergeron explained
to legislators the difference between credit unions and banks and their
tax-exempt status in the US. The group also made visits to San Hilarion Credit Union , ABACO Credit Union , Finantel Credit Union , AELUCOOP Credit Union , and Santo Domingo de Guzman Credit Union .
The partnership will give the credit union movements the ability to collaborate on key areas of focus such as deposit insurance for members. The future of this partnership will also provide more means for communication including presentations at each other's conventions and additional partnership developments at the credit union-level.
View the press release here .
Written by Josh Fetting, International Partnerships Program Specialist