MADISON, Wis. — World Council of Credit Unions' board of directors last week welcomed Cooperativa Médica del Valle (COOMEVA), a cooperative financial holding company from Colombia, as a new associate member. The board also welcomed the Central Association of Savings and Credit Associations (CASCA), Moldova's credit union trade association, as a direct member. Applications from both organizations were approved during World Council's first-quarter 2012 board meeting in New York City, USA.
"The global credit union movement continues to grow thanks to the good work of organizations like COOMEVA and CASCA," said Brian Branch, World Council president and CEO. "We welcome them as members and are pleased with their commitment to strengthening the international credit union community."
COOMEVA, based in Cali, Colombia, is a cooperative holding company that provides health services, mutual insurance, investment, savings and lending services to 250,000 members. COOMEVA heads a group of 16 companies with US$2.8 billion assets. The organization is one of a growing number of World Council associate members.
CASCA was formed in 2009 by Moldova's 49 largest credit unions. Its affiliates control 42% (US$12.7 million) of Moldova's credit union assets and account for 32% (40,735) of the country's total credit union members. CASCA, Moldova's only credit union trade association, provides representation, training and liquidity management services for its members.
"We see the continued growth of our organization as a sign of confidence not only in the work we do, but also in the global credit union movement," said World Council Chair Manuel Rabines, CEO of the National Federation of Credit Unions of Peru. "Such support signals a brighter future for us all."
Representatives from CASCA and COOMEVA will be formally recognized at the WOCCU 2012 annual general meeting, which will be held in conjunction with the organization's World Credit Union Conference, July 15-18 in Gdańsk, Poland. For more information on the conference, visit www.letsgdansk2012.org.
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 105 countries serve 217 million people. Learn more about World Council's impact around the world at www.woccu.org.