Together We Make a World of Difference
World Council of Credit Unions and its members are making a world of difference in the lives of millions of people across the globe. On behalf of its members, World Council:
- Advocates internationally to improve legislation and regulation specific to credit unions.
- Raises awareness of credit unions and financial cooperatives worldwide.
- Facilitates the global exchange of information and ideas.
Due to globalization, more financial sector standards — from accounting
to capital requirements to supervisory procedures — are being set at an
international level and adapted to local conditions. To ensure that
credit unions are represented from the outset of discussions, World Council works continuously with the following organizations to influence global
standards and regulation:
- Bank for International Settlements (BIS) — Advocates before regulaltory standard setters to ensure positive outcomes for credit unions.
- International Accounting Standards Board — Monitors standards and advocates for credit unions.
- European Union (EU) — Coordinates lobbying activities before EU officials in Brussels for its European members.
- Consultative Group to Assist the Poor (CGAP) — Serves on the CGAP executive committee as a financial cooperative expert.
- World Bank and International Monetary Fund — Provides financial, legislative and technical guidance to their organizations in the development of policies and programs.
- United Nations — Has special observer status at the United Nations since 1978 and takes part in UN briefings and meetings.
Provides statistics on the international credit union system through its annual Statistical Report as well as data on the tax status of credit unions in various countries through its annual Taxation Report.
- Publishes Credit Union World magazine, which covers international trends and events affecting credit unions and financial organizations.
- Increases public awareness of credit unions through media relations and International Credit Union Day celebrations.
- Produces the eCommuniqué, an electronic newsletter distributed six times a year that covers World Council activities and events.
- Promotes international governance, operating and safety and soundness, and consumer protection principles, which provide guidelines for operating credit unions.
- Publishes credit union best practices from around the world, making them available to members, credit unions, regulators and policy makers.
- Researches more than 500 topics annually on development issues, trends and information on not-for-profit financial cooperatives.
To help credit unions thrive in today's global economy, World Council hosts a variety of meetings and conferences:
- The World Credit Union Conference brings together credit union leaders from more than 50 countries each year to network, learn and share ideas that help the global credit union movement to grow.
- The International Partnerships Program facilitates the exchange of knowledge, information and best practices in operations between developing and developed credit union movements.
- Regulators' Roundtable is the exclusive forum for financial cooperative regulators to meet, network and share best practices on credit union regulation.
- World Council serves as the secretariat for the International Credit Union Regulators' Network.
- Regional member conferences are hosted annually in collaboration with member organizations and partners.
- International targeted exchanges are coordinated for member organizations to meet learning objectives.
World Council also:
- Develops and regularly updates Model Law for Credit Unions and Guide to International Credit
Union Legislation, which have been applied in several jurisdictions worldwide.
- Carries out legislative and regulatory consultation and advocacy visits for member organizations.
- Provides members with best-practice regulations and experience from numerous countries as documented in Model Regulations for Credit Unions.