MADISON, Wis. — World Council of Credit Unions' (WOCCU) board of directors has approved membership applications submitted by CU Direct Corporation (CU Direct), based in the United States, and CUSSCO Ltd., based in Scotland. Both are credit union service organizations (CUSOs) owned by credit unions.
"Credit unions worldwide are achieving greater efficiencies, accessing high level expertise and investing in technology through credit union-owned business associations," said Brian Branch, WOCCU president and CEO. "We are happy to welcome both CU Direct and CUSSCO, not only for the strength they bring their credit union partners, but also their anticipated contributions to World Council's international community."
CU Direct administrates the largest auto lending network for U.S. credit unions and offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. CU Direct is the parent company of CUDL, Lending Insights, Lending 360 and CUDL retail brands. It serves more than 950 credit unions and 7,000 dealerships in the United States. CU Direct began as a division of the California and Nevada Credit Union leagues in 1994 and became an independent entity in 2002.
"We are honored to be a member of World Council of Credit Unions and look forward to working with World Council to create opportunities for individuals to receive financial services throughout the world," said Tony Boutelle, CU Direct president and CEO.
CUSSCO Ltd. is also a CUSO, jointly owned by Capital Credit Union Ltd. in Edinburgh, Scotland, and Scotwest Credit Union in nearby Glasgow, the site of WOCCU's 2011 World Credit Union Conference. Both credit unions have been actively involved in WOCCU for many years.
"The directors of CUSSCO have been supporters of the work of World Council for many years," said Marlene Shiels, president and CEO of Capital Credit Union and a WOCCU director. "We have valued greatly the opportunities that this association has brought to both Capital and Scotwest credit unions."
The WOCCU board approved both membership applications at its meeting earlier this month in Lima, Peru. Representatives from CU Direct and CUSCCO will be formally recognized at the WOCCU 2012 annual general meeting, which will be held in conjunction with the organization's World Credit Union Conference, July 15-18 in Gdańsk, Poland. For more information on the conference, visit www.letsgdansk2012.org.
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.