Paraguayan CU Association to Make First Trip to Minnesota

BLOOMINGTON, Minn. – As the first step toward establishing a relationship with the Minnesota Credit Union Network, the Paraguayan credit union association CENCOPAN will be sending four individuals on a trip to Minnesota March 22-26. The Network has been developing this relationship since fall of 2003 through the World Council of Credit Unions' (WOCCU's) "Partnership Program." This visit will be the first meeting of the two organizations, who will sign an agreement formalizing their commitment to the partnership program, and develop a cooperative work plan that defines specific objectives for this effort.

CENCOPAN, more formally known as the Central de Cooperativas Nacionales del Paraguay, was established in 1994. Today, CENCOPAN represents 24 credit unions throughout the country of Paraguay, most recently working with its member credit unions on implementing a new law that established a separate regulatory body for credit unions in Paraguay.

"Our relationship with CENCOPAN through WOCCU's partnership program is the perfect opportunity to exercise the credit union philosophy of 'People Helping People,'" said Dana Hofmann-Geye, Network Executive Vice President & General Counsel.

Four individuals from CENCOPAN will travel with an interpreter when visiting the Network next week:

Three members of WOCCU will also be in Minnesota:

The week-long visit will begin with an overview of the Network, with individual departments making presentations, including legal/regulatory compliance,governmental affairs, communications, education, technology and the Network Services Corporation. Also during the week, the Paraguayans will visit Mid-States Corporate Federal Credit Union's Minnesota office, tour three credit unions varying in size, location and product offerings, including US Federal Credit Union in Burnsville, St. Marys Federal Credit Union in Sleepy Eye, and Buckbee Mears Employees Credit Union in St. Paul. The group will also be attending a Minnesota Timberwolves basketball game at the Target Center.

"The Network staff is very much looking forward to meeting with the group from CENCOPAN and discovering ways to work together," said Kevin, Network President & CEO. "It's an exciting challenge and opportunity for us to compare organizations and see how each can benefit the other."

El Consejo Mundial de Cooperativas de Ahorro y Crédito es la asociación gremial y agencia de desarrollo para el sistema internacional de cooperativas de ahorro y crédito. El Consejo Mundial promueve el crecimiento sustentable de las cooperativas de ahorro y crédito y otras cooperativas financieras en todo el mundo a fin de facultar a las personas para que mejoren su calidad de vida a través del acceso a servicios financieros asequibles y de alta calidad. El Consejo Mundial realiza esfuerzos de defensa activa en representación del sistema global de las cooperativas de ahorro y crédito ante organizaciones internacionales y trabaja con gobiernos nacionales para mejorar la legislación y la regulación. Sus programas de asistencia técnica introducen nuevas herramientas y tecnologías para fortalecer el desempeño financiero de las cooperativas de ahorro y crédito y profundizar su alcance comunitario.

El Consejo Mundial ha implementado 290 programas de asistencia técnica en 71 países. A nivel mundial, 51,000 cooperativas de ahorro y crédito en 100 países atienden a 196 millones de personas. Obtenga más información sobre el impacto global del Consejo Mundial en www.woccu.org.