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November 24, 2004


The Bahamas Cooperative League, Ltd. and the Massachusetts Credit Union League meet to discuss possible partnership

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Madison, WI – In their first step toward partnership, the Bahamas Cooperative League and the Massachusetts Credit Union League met in Massachusetts last week. Victor Corro, International Partnership manager of the World Council of Credit Unions (WOCCU) facilitated the two-day event, in which two representatives of the Bahamas League, CEO Francis Davis and vice president Rufus Johnson, were given an overview of the credit union system in Massachusetts with the intent of finding common ground in which to start a partnership. A few of the hosts involved included Massachusetts League CEO Dan Egan, Worcester Credit Union CEO and League board member Karen Duffy, and League chairman Eugene Foley.

On the first day of the meeting, the Bahamas Cooperative League presented to the Massachusetts League their ideas for the initial focus of the partnership, which include the development of youth programs in credit unions, governance, and marketing. Later, they were given in-depth exposure to the Massachusetts credit union system in their visits to two area credit unions: the Worcester Credit Union and the Medical Area Federal Credit Union in Boston. They were even able to join the League in an open house, celebrating their move to a new facility.

Both organizations were pleased with the outcome of the initial meeting. "These organizations have a lot to offer each other," said Corro. "I am confident that the next step in this partnership will be similarly successful." Mr. Egan added, "both organizations could benefit substantially from a partnership. I know our board was impressed with the business acumen and commitment to the credit union principles demonstrated by Mr. Davis and Mr. Johnson."

Early next year, the Massachusetts League will visit the Bahamas Cooperative to learn more about the credit union system there and to further their working relationship with the Bahamas League.

 



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, 57,000 credit unions in 103 countries serve 208 million people. Learn more about World Council's impact around the world at www.woccu.org.

 



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