WOCCU Procures Funding to Pilot Credit Union Outreach Program in the United States
Graduates of the June 2007 Strathmore WOCCU African Management
Institute (SWAMI). This intensive accreditation program is one example
of CDP's efforts to provide global training opportunities.
Madison, WI— The United States Agency for
International Development (USAID) awarded World
Council of Credit Unions (WOCCU) additional
funding to expand its Cooperative Development
Program (CDP) to work with credit unions in
Afghanistan, Ecuador, Kenya, Nicaragua, the
Philippines and the United States. The new funds
will support a remittance outreach program,
development of an integrated training strategy and
the creation of a village banking model for credit
WOCCU’s new Credit Union Remittance Outreach
Program is designed to encourage U.S. credit
unions to reach out to underserved populations
through the offering of international remittances.
WOCCU is collaborating with the Iowa Credit Union
League, its subsidiary company Coopera and the
Corporación Fondo de Estalicización y Garantía
de Cooperativas de Ahorro y Crédito de Panamá
(COFEP, WOCCU’s member in Panama) to carry out a
community outreach and financial education program
for remittance senders in three participating
The innovative program will provide a model for
other U.S. credit unions to follow in reaching the
underserved immigrant market. Brian Branch,
Executive Vice President and Chief Operating
Officer of WOCCU, noted, “Credit unions are
leading the way to make sure that the
globalization of financial markets benefits
working people. By providing an entryway into the
U.S. financial system, credit unions are providing
hard-working immigrants the services they need to
support their families and encourage economic
development both in the United States and back in
their home countries.”
The new integrated training strategy developed by
WOCCU under the CDP will help standardize credit
union education and training opportunities at the
global level. Also with the new funding, WOCCU
will conduct an evaluation of its past and ongoing
programs to develop a village banking model that
enables credit unions worldwide to offer tailored
financial services to the working poor.
WOCCU’s CDP program has the main objectives of
building cooperative business networks, advancing
credit union regulation, investing in human
capital through credit union training and
extending credit union operations to difficult
operating environments, such as HIV/AIDS-affected
communities, conflict-prone zones and
poverty-entrenched rural areas. See www.woccu.org/development/cdp.php
for more information on the program.
The primary goal of USAID’s CDP funding is to
encourage dissemination of lessons learned, both
within WOCCU and its membership and to the broader
cooperative development community. The new funds
will be applied to WOCCU’s current award, a five
year grant which ends in 2009.
WOCCU is one of eight cooperative development
organizations that received supplemental funding.
To learn more, visit www.ocdc.coop/OCDC/members.html.
Coopera Consulting is Iowa’s leading economic
development firm focused on emerging markets that
present unique growth opportunities for financial
service institutions. Experienced community
developers of diverse backgrounds established
Coopera in conjunction with the Iowa Credit Union
League to partner with credit unions and other
financial service institutions seeking to
effectively reach emerging markets. For more
information about Coopera Consulting, visit www.cooperaconsulting.com.
The Iowa Credit Union League is the trade
association that represents the interests of Iowa
credit unions and their members. Credit unions are
not-for-profit, financial cooperatives owned and
operated by their members. Iowans use their credit
union membership to receive higher interest rates
on savings and lower interest rates on loans. For
more information on the League and Iowa credit
unions, visit IowaCreditUnions.com.
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, 56,000 credit unions in 101 countries serve 200 million people. Learn more about World Council's impact around the world at www.woccu.org.
Contact: Rebecca Carpenter
Organization: World Council of Credit Unions