WOCCU Recognized as Leader in Providing Financial Education
In their recent "game plan" for financial
education in America, the Financial Literacy &
Education Commission lauded the World Council of
Credit Unions (WOCCU) for their development work
and International Partnership Program.
The Commission published their "game plan"
report, Taking Ownership of the Future: The
National Strategy for Financial Literacy 2006, in
response to an initiative stemming from the Fair
and Accurate Credit Transactions Act of 2003.
Their goal was to develop a plan to assist
Americans in learning how to manage their
The report highlighted WOCCU's role in
financial performance, mobilizing savings, and
increasing outreach to promote financial freedom
through its technical assistance programs in ten
countries. It also spotlighted WOCCU's
International Partnership Program, which matches
credit unions in the U.S. to those in developing
countries, as a pioneering approach to providing
"Fifteen U.S. credit union leagues have
into partnership agreements," stated the
report, "leveraging U.S. foreign aid by providing
technical assistance and exchanging innovative
approaches to serving credit union members with
U.S. Treasury's Dan Iannicola, Jr., met with
WOCCU staff on a recent visit to Madison, Wis.,
to introduce the report. He recognized the
important role the private sector plays in
providing financial education "with people"
rather than "to people" and referred to the
report as a "blueprint for financial
WOCCU CEO Pete Crear echoed Iannicola's
recognition of credit unions' unique role in
"By our very nature as credit unions, our
go beyond providing basic financial services,"
Crear said. "For decades, one of the nine
International Credit Union Operating Principles
has been the on-going education of our members
and the public."
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.