World Credit Union Regulators Convene At WOCCU's Leadership Institute
Madison, WI-Credit union regulators from
the world convened at the World Council of
Unions' International Leadership Institute in
Bahamas in August to partake in the second
International Regulator's Roundtable.
World Council (WOCCU) designed the discussion
group, which was first held at last year's Forum
in Brisbane, Australia, to fill the need for
credit union regulators to communicate with one
another on issues affecting regulation and
"There is no other forum that allows credit
regulators from around the world to meet. WOCCU
is pleased to act as a platform for them,
providing space where they can share best
practices and discuss common issues," said
Arnold, World Council president and CEO.
WOCCU's Legislative and Regulatory Affairs
Committee hosted the event, chaired by WOCCU
board member David Chatfield, president and CEO
of the California and Nevada Credit Unions, who
acted as moderator. Arnold was present at the
Roundtable discussion, along with other WOCCU
senior staff—vice president and COO Brian
and senior manager of trade association services
Participants included representatives of
regulators from Australia, the Bahamas, Brazil,
Canada, Guatemala, Guyana, Ireland, Kenya, Peru,
Poland and the United States of America.
Specific topics covered included
the credit union difference in a Single
Services Authority environment, the impact of
Basel II Capitol Accord and the newly proposed
International Accounting Standards by IASB for
the treatment of shares, mergers of credit
in their respective countries, and other trends
regarding the supervision of credit unions in
JoAnne Johnson, National Credit Union
Administration's chairman of the Board, who
the Roundtable, also spoke at the Institute's
reception. During her address she reaffirmed the
importance also for credit union regulators
worldwide to come together and learn from each
Roger Little, chairman of NASCUS
I have learned is that all credit union
regulators all over the world, are dealing with
the same issues, whether their credit unions are
big or small, and whether they are located in
developing, in transitional, or in mature
markets. Therefore there is so much knowledge
experience we can share with each other!"
The popularity of such an approach is apparent.
This year's attendance was double that of last
year, and plans for future Roundtables are
underway. "All participating regulators have
requested WOCCU to expand the program for
regulators in WOCCU's 2005 World Credit Union
Conference [the renamed Institute] in Rome,
next year," said Arnold.
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.
Phone: (608) 395-2000