International Credit Union Regulators Meet at 2006 World Conference

N. Srinivasan, National Bank for Agriculture and Rural Development (India) and N.S. Vishwanathan, Reserve Bank of India, at the Regulators' Roundtable.

The 2006 WOCCU World Credit Union Conference wasn't just for credit union and association professionals. Regulators were also given a prime opportunity to network at the 4th annual Regulators' Roundtable, July 26-27.

Prior to the opening ceremony of the World Conference, 33 regulators from 15 countries shared concerns and practices in credit union regulation. This year's roundtable, hosted in conjunction with the Irish Financial Services Regulatory Authority, attracted the largest number of participants in the meeting's history.

In the months leading up to the roundtable, WOCCU distributed a 40-question survey among leading regulators to gather a global perspective on current issues and risks in the credit union industry. Twenty regulators from 17 countries responded, and the roundtable agenda was created from their feedback.

Roundtable discussions focused on trends such as implementation of Basel II, credit union competition, governance, consolidation and demutualization. Regulators from Australia, Canada, India, Ireland, Poland, Switzerland, the United States and the United Kingdom gave presentations and led discussions on best practices in the countries represented at the meetings.

"This is the only place in the world that so many credit union leaders can meet, network and discuss their concerns," Dave Grace, WOCCU senior manager of association services and roundtable organizer emphasized. "Regulators look to WOCCU to help bring them together and to help share best practices in regulation."

Regulators expressed overwhelming enthusiasm for the event, even requesting a longer, two-day meeting at next year's conference in Calgary, Canada.

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.