British Credit Unions Encouraged to Go For Gold
Great Britain Development Educators (DEs)pose with WOCCU delegation (also DEs)
Great Britain—During 25th Anniversary of
Credit Union Act celebrations at the Association
of British Credit Unions, Ltd. (ABCUL) Annual
Meeting, World Council of Credit Unions, Inc.
chairman, L.R. (Bobby) McVeigh complimented ABCUL
and member credit unions on their accomplishments
in the last 25 years and encouraged them to go
for gold in the next 25 years.
Credit unions in Great Britain have grown,
especially the last 10 years.
|ABCUL affiliated credit unions
|Average Members per credit union
|Average Shares/Savings per Member
|Average Loan per Member
McVeigh continued, "Since July, 2002 credit
unions in Great Britain have become an
integral part of the financial system, by the
Financial Services Authority (FSA) taking over
the supervision of credit unions and setting the
minimum prudential standards, for which WOCCU's
PEARLS monitoring system has been used as
guidance. The PEARLS project will ultimately
generate the goals of creating a sound and safe
alternative network of socially driven financial
institutions and providing access to affordable
McVeigh also drew the attention to the record
participants of the Blackpool conference and the
creation of the ABCUL Foundation, which will hold
the first Development Educators (DE) program for
credit union leaders in September. The program
is based on the model developed by National
Credit Union Foundation (U.S.) and World
During the conference ABCUL chief executive
officer, Shaun Spiers announced he would retire
in order to pursue other activities in the Great
Britian. He was thanked by ABCUL's board for the
success with which he has advanced ABCUL and
credit unions during his tenure. Board leadership
changes also occurred, with the chairman of the
ABCUL board, Richard Collier completing his term.
He will be remembered for his dedication to the
credit union legislative issues in the Great
Britian as well as in the European Union. Mary
Henderson, development educator was elected as
the new Chairwomen by her fellow board members at
the Annual General Meeting.
World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 51,000 credit unions in 100 countries serve 196 million people. Learn more about World Council's impact around the world at www.woccu.org.