WOCCU in Russia: First Eastern European Congress a Success

Russia and Louisiana sign official International Partnership Agreement

Brian Branch, WOCCU Chief Operating Officer, addresses the 217 participants of the Eastern European Congress as (r-l) Pete Crear, WOCCU President & CEO, Valery Kasatkin, Chairman of the Russian Credit Union League and Vadim Kalinichev, CEO of the Russian Credit Union League, look on.

Madison, WI—World Council of Credit Unions (WOCCU) partnered with member the Russian Credit Union League (RCUL) to co-host its inaugural Eastern European Credit Union Congress in Moscow, Russia, September 10-12. The first congress of its kind in the region, 217 participants from 12 countries attended to discuss the progress of credit union movements in Eastern Europe and throughout the world.

Vadim Kalinchev, CEO of RCUL, remarked “The Congress is undoubtedly a big opportunity for further interaction between participating credit unions. Credit unions throughout the region can now see that we are moving in one direction together, committed to International Credit Union Principles.”

Attendees from Azerbaijan, Iran, Ireland, Ukraine, Uzbekistan and other countries participated in lively discussions on issues of critical importance to credit unions in the region. Topics ranged from how credit unions can strengthen their social and civic responsibility to why and how credit unions are regulated in the United States. Vladimir Lukov, Deputy Director of the Department for Finance Policy, Finance Ministry of the Russian Federation, provoked a spirited debate when he presented on the Finance Ministry's plans to create one national system of regulation for all types of microfinance institutions in Russia.

Participants of the 2007 Eastern European Congress in Moscow.

Dina Plokhotnaya, known as “Mother Russia” for her involvement in the formation of credit unions in Russia, addressed the top government officials present, demanding to know if proposed regulatory legislation in Russia will be specifically designed for credit unions. Her probing led others to question the officials on whether proposed legislation would take into account the institutional requirements of a sustainable deposit-taking financial cooperative, and adequately build public confidence.

Grzegorz Bierecki, WOCCU Treasurer and President of the National Association of Cooperative Savings and Credit Unions (NACSCU) in Poland, explained the seven secrets to credit union growth and cautioned participants about the danger of over-reliance on external credit for developing credit unions.

During the three-day gathering, RCUL and the Louisiana Credit Union League (LCUL) signed their International Partnership Agreement with WOCCU. Anne Cochran, WOCCU Director and President and CEO of LCUL, remarked, “The warmth and energy of the Russian people make the opportunity to work in this partnership especially rewarding.”

WOCCU will continue to support the developing credit union movements of Eastern Europe and will carry out another European Congress in 2008.

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.