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 money.

The report highlighted WOCCU's role in improving 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 financial education.

"Fifteen U.S. credit union leagues have entered 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 partner movements."

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 education."

WOCCU CEO Pete Crear echoed Iannicola's recognition of credit unions' unique role in providing education.

"By our very nature as credit unions, our duties 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."

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.