World Council PTP Partners Assist Mexico's Largest CU
March 11, 2004
Madison, WI—A recent World Council of Credit Unions, Inc. (WOCCU) People to People Partnership exchange helped Mexico's largest credit union, Caja Popular Mexicana (CPM) move forward on choosing an information system to connect its 326 branches.
Top information technology representatives from the Texas Credit Union League, California Credit Union League and World Council traveled to Leon, Mexico to work with Caja Popular Mexicana's information technology managers. During the three-day assignment the group assisted in the analysis of proposed systems. CPM has five major goals for the new computer system. They hope to centralize the database, expand communication by linking branches together, make creation of new products easier, manage technological risk and respond to the future needs of CPM. The total cost of the project is $15 million, which also includes planning and implementation of the new system.
Caja Popular Mexicana serves close to 700,000 members, processing 4.2 million transactions a month and employs 2,300 people. The credit union currently has over $600 million in assets. The centralization of data will only continue to assist in the growth of the organization and expansion of services to members.
Steve Schaefer, WOCCU technical officer explained, "CPM followed an extremely detailed process and a well prepared plan for implementing the new system. They were grateful for the technical assistance provided by the team and we also learned a great deal from CPM's planning process."
At the completion of the three-day exchange the delegation presented CPM with their recommendations on the software vendor that best fit their needs and specific tasks that would help them have a successful implementation.
"This exchange shows the value of the partnerships. WOCCU was happy to be a facilitator in bringing expertise to the table for our members," noted Arthur Arnold, WOCCU president and CEO. World Council and CPM partners the Texas and California Credit Union Leagues will continue to assist in an advisory role in the roll out of the new system.
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, 60,500 credit unions in 109 countries serve 223 million people. Learn more about World Council's impact around the world at www.woccu.org.