JCCUL Consults Texas CU League on ALM Services in Jamaica
(l-r) Carmencita Soman, JCCUL supervisory examiner, Karan Fisher, JCCUL stabilization unit manager, Howard Bufe, TCUL, and Mike Delker, TCUL, discuss Texas' ALM services and how the Jamaica League could offer similar services to its member credit unions. Photo courtesy of JCCUL.
Madison, WI—Representatives from the
Credit Union League (TCUL) spent four days last
month in Kingston, Jamaica, discussing
asset/liability management (ALM) services with
Jamaican Co-operative Credit Union League
(JCCUL) management. The visit grew out of the
leagues' International Partnership.
TCUL vice president of credit union relations,
and Howard Bufe, financial analyst in TCUL's ALM
department, met with JCCUL management and
stabilization unit staff to discuss Texas' ALM
services and how Jamaica could adapt similar
services and software to their market.
"Credit unions in Jamaica are going through
regulatory changes which will make
asset/liability management more crucial," Delker
explained. "Jamaica's management staff was
already very well versed in financial matters,
so our visit was less an exercise in training on
what ALM is but more a discussion on what we do
in Texas and how they might implement the same
program in their credit unions."
Delker, in his second visit with JCCUL staff
Jamaica, said that the partnership's main focus
now is to adapt Texas' ALM software to serve
JCCUL's needs. JCCUL plans to begin providing
ALM ratio analysis to Jamaican credit unions in
2007 on an ongoing basis.
TCUL and JCCUL formed their International
Partnership in 2005. Besides ALM services, the
leagues have focused on advocacy efforts,
establishing strategic planning and providing
information on best practices in board
governance and league structure. They have also
formed 12 individual credit
uniontocredit union partnerships
based on similar membership markets and
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.
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