World Council's Crear and Branch Welcomed at Dominican Republic AGM
(l-r) Rubén Bonilla, account manager, CUNA Mutual Group; Lorenzo Goetz, CEO, COSEFI; Brian Branch, COO, WOCCU; Darío Lantigua, CEO, Coopsano; Virginio Rafael Gerardo, executive director, AIRAC; Pete Crear, CEO, WOCCU; Javier Tejeda-Vera, vice president, CUNA Mutual Group–Caribbean/Latin America.
World Council of Credit Unions' Dominican
Republic member, Asociación de Instituciones
Rurales de Ahorro y Crédito, Inc. (AIRAC),
hosted CEO Pete Crear and Dr. Brian Branch,
Chief Operating Officer, at their Annual General
Meeting, August 25-26.
AIRAC invited Crear and Branch to address the
assembly on international credit union issues.
During his lecture, Crear outlined current
challenges and practices in the international
credit union system. He praised the Dominican
Republic's accomplishments in technological
innovation, which has included the development
of a service corporation that offers accounting
systems to credit unions. Crear also reminded
attendees that innovation and progress require
constant exploration for improvement. He
encouraged the movement to remain at the
forefront and continue seeking ways to improve
technology as times and needs change.
"Working collaboratively, solutions are found
and implemented," Crear told the attendees. "So
what are our opportunities?"
Credit unions in the Dominican Republic are
currently working with legislators, the Central
Bank and Government Cooperative Institutes to
develop policies for credit union legislation
and supervision. AIRAC has been helping credit
unions prepare for many required financial
standards and internal controls that will come
under the new regulatory framework.
Branch shared his expertise on the topic in his
presentation on credit union supervision.
Emphasizing the tenets of the "credit union
difference", Branch discussed models for
supervision, steps in regulatory transition and
international standards in regulation and
"World Council and CUNA Mutual are committed to
collaborating and working together with AIRAC to
support a positive transition of credit unions
to a strengthened regulatory framework," Branch
Javier Tejeda, vice president of CUNA Mutual
Group–Caribbean/Latin America, also shared
results of a survey they had conducted regarding
the state of the credit union movement in Latin
AIRAC is the World Council representative in the
Dominican Republic and is closely affiliated
with CUNA Mutual Group. AIRAC represents 14
credit unions with close to 176,000 members.
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, 51,000 credit unions in 100 countries serve 196 million people. Learn more about World Council's impact around the world at www.woccu.org.