Leadership Report
World Council of Credit Unions (WOCCU) in 2024 showed an unwavering commitment to our member organizations, their credit unions and the communities they serve—resulting in significant milestones that reflect the power of collaboration and innovation within our global network.

Paul Treinen
Interim President and CEO
Michael Lawrence
Chair
WOCCU welcomed two new member organizations to start the year, with the addition of Moldova’s Central National Association of Savings and Credit Associations (CNASCA) as a direct member and the Cresol Confederation of Brazil as an associate member.

Our International Advocacy efforts led to meaningful regulatory advancements, successfully influencing the G20 Brazilian Presidency to include language in its Leaders Declaration that emphasized the importance of financial inclusion in improving financial well-being and the harnessing of digital technologies to reduce inequalities. We also exercised significant influence and scored key victories with both international standard setters and national-level regulators.

We brought together nearly 2,700 professionals from 67 countries for the 2024 World Credit Union Conference in Boston, which also included regional summits for our members from Africa, Latin America and Asia. 1,200 more credit union representatives from 93 countries took part in WOCCU virtual learning events held throughout the year.

WOCCU equipped thousands of people with financial tools to foster growth and security through international development projects in seven countries. But with USAID in 2025 terminating the awards that funded those projects, we must now pivot moving forward. While we look for new and innovative ways to continue implementing credit union development projects, we are placing an even greater emphasis on the international advocacy work we do on behalf of our members and the education and networking opportunities we can provide them.

WOCCU will rely on the strength of our member network to reinforce the resilience and sustainability of credit unions worldwide, and to continue empowering communities through cooperative finance. Together, we will continue to build a stronger financial future for all.
2024 By the numbers
90+
Regional and national credit union association members on 6 continents
2,659
Attendees of the 2024 World Credit Union Conference
$9 Million
Mobilized to implement credit union development in 7 countries
1 Billion
Credit union members set as new worldwide goal
Delivering Results for Our Members

Our International Advocacy team scored several important victories on behalf of our members and their credit unions in 2024.

Click on each country icon to learn more.

International Level
Basel, Switzerland
Basel, Switzerland

Basel, Switzerland

Successfully advocated that the Basel Committee on Banking Supervision emphasize a proportional approach to supervision be clearly communicated with national-level supervisory authorities to prevent credit unions from facing unfair regulatory burden in key areas such as operational resilience and stress testing.

Rio de Janiero, Brazil
Rio de Janiero, Brazil

Rio de Janiero, Brazil

Successfully influenced the G20 Brazilian Presidency to include language in its Leaders Declaration that emphasizes the importance of financial inclusion in improving financial well-being and harnessing digital technologies to reduce inequalities.

Brussels, Belgium
Brussels, Belgium

Brussels, Belgium

Engaged with key European Union (EU) officials and select Members of the EU Parliament in Brussels, Belgium on exempting credit unions from the Financial Data Access Regulation (FiDA).

National Level
Kyiv, Ukraine
Kyiv, Ukraine

Kyiv, Ukraine

Amendments to the Law on Credit Unions eliminated the need for credit unions to obtain a separate license to provide payment services.

Cuenca, Ecuador
Cuenca, Ecuador

Cuenca, Ecuador

Change to Basic Account Rule allows migrants and refugees to open credit union accounts and receive debit cards using an ID from their home country.

Skopje, North Macedonia
Skopje, North Macedonia

Skopje, North Macedonia

Changes to the country’s Banking Law that allows credit unions to enhance the ability of credit unions to offer better and more diversified services to members.

"WOCCU International Advocacy's work in partnership with the European Network of Credit Unions was vital to enhancing the ability of savings houses to offer better and more diversified services to the public. This step marks significant progress in fostering a more inclusive, transparent and innovative financial sector that benefits both nano businesses and individuals alike.”
Eleonora Zgonjanin Petrovikj
CEO, FULM Savings House, North Macedonia
Global Programs

To date, WOCCU has implemented 300+ technical assistance programs in 90 countries. In 2024, WOCCU implemented five USAID-funded programs in seven countries—each of which produced impressive results for the year.

Economic Inclusion Project Peru and Ecuador
  • 58,627 individuals accessed savings, credit and insurance products through project-assisted financial institutions.
  • $399 average monthly income for Venezuelan migrants enrolled in the program was 119% higher than for those not enrolled.
  • Advocacy resulted in Basic Account Rule Change that allowed individuals to open credit union accounts and receive debit cards using only a Venezuelan ID.
"They opened my account, they called me very promptly and it was a fairly simple process that we hadn’t experienced with other banks. But in this credit union, we found the opportunity to save."
- Liseth Pinzón, Venezuelan migrant in Quito, Ecuador.
Accelerating Growth and Inclusion in Lending for Credit Unions (AGIL4CU) Project Kenya, Guatemala, Burkina Faso and Senegal
  • $11 million+ in micro-, small- and medium-sized (MSME) loans disbursed by partner credit unions using the WOCCU SME Lending Methodology.
  • 2.5 million cooperative members benefited from financial services and resources delivered through 22 project-assisted credit unions.
  • 46% of all project beneficiaries were women.
"No one visits us, we are a community in the good of God. I thank you for taking us into account. We need people and organizations like you to make a difference. We cannot do it alone."
- Angelica Temaj, San Marcos. Guatemala.
Technology and Innovation for Financial Inclusion (TIFI) Project Kenya, Guatemala, Burkina Faso, Senegal (concluded Sept. 2024)
  • 1.8 million+ cooperative members benefited from financial services and resources delivered through 23 project-assisted credit unions.
  • 45% of project beneficiaries were women.
  • 1,767 SME loans worth $41.3 million disbursed through partner financial cooperatives.
Occasionally, there is a shortage of poultry feed and being unable to stock up can cause significant problems. Financing allows me to produce and store feed, preventing shortages."
- Idrissa Diouf, Thies, Senegal.
Credit for Agriculture Producers’ (CAP) Project Ukraine (concluded Sept. 2024)
  • $33.3 million in loans disbursed by partner credit unions to rural and agricultural micro and small businesses.
  • $4.4 million in USAID/Worldwide Foundation for Credit Unions’ Liquidity Fund loans issued by 25 credit unions to agricultural MSMEs.
  • 25+ regulations for credit unions developed in cooperation with Ukrainian regulators, including the 2024 Ukraine Law on Credit Unions.
"We never took a loan with a credit union before, but with these conditions, it’s a very good offer for us. Despite all the difficulties, thanks to the support provided, I will continue to cultivate the land and ensure jobs for my 15 employees."
- Maya Stoliar, Cherkasy Oblast, Ukraine.
The GROW Project Ukraine
  • $265,577 in USAID/WFCU Liquidity Fund loans issued by 174 credit unions.
  • $143,540 for extra liquidity granted to United Credit Union, one of Ukraine’s central credit union financing facilities.
  • GROW advocacy efforts result in adoption of amendments to the 2024 Ukraine Law on Credit Unions empowering credit unions to provide payment services under streamlined licensing and enabling them to attract foreign currency funding from diverse international sources.
"This initiative has given us hope and the ability to move forward. We're grateful for the support that allows us to thrive and contribute to our community."
- Vasyl Charchuk, Lviv Oblast, Ukraine.
Education and Engagement
Boston
2024 World Credit Union Conference

WOCCU's Meetings and Events team in July hosted the first World Credit Union Conference held in the United States since 2015, in partnership with America's Credit Unions.

2,659   Attendees
74   Speakers
108   Industry Partners Organizations
67   Countries
"Coming to the conference is really, really impactful for me every year. There's always something to learn, some new person to meet, some new idea that you can take and strengthen your part of the world, what you do - and very importantly, the connections that you make with the various persons around the world who attend this conference is very powerful."
Dorwin Manzano, Board Director
UWI Credit Union (Trinidad and Tobago)
  Digital Growth Award
World Council of Credit Unions (WOCCU) also presented two Digital Growth Awards during its Annual General Meeting (AGM) at WCUC 2024.
PUSKOPCUINA, the credit union federation for Indonesia and a member of the Asian Confederation of Credit Unions, won for the development of ESCETE, which encompasses a cloud-based core banking solution, personalized mobile banking for individual members and an innovative e-commerce platform where SME members can market and sell their products.
SICOOB, a Brazilian credit union system and WOCCU Associate Member, won a Digital Growth Award for developing and implementing Sipag 2.0, a digital system that allows micro and small businesses in rural areas to accept electronic payments at an affordable cost, allowing them to expand their customer reach and increase sales.
  WOCCU Virtual Events
WOCCU Meetings and Events also attracted more than 1,200 attendees from credit unions and our member associations in 93 countries to our educational webinars and networking workshops. The attendees represented an even mix of board directors, executives, mid-level managers and associate staff members—fulfilling a goal to reach professionals who may not get to travel to a World Credit Union Conference with an equal level of educational opportunities.
  WOCCU Global Engagements
WOCCU participated in member events and exchanges across five continents in 2024.
Kenyan credit union professionals affiliated with the ACCOSCA participated in a September immersion program in Brazil hosted by Sicredi and made possible by the WOCCU Global Bridges program.
WOCCU International Advocacy and Regulatory Counsel Erin O'Hern participated in a panel discussion on the importance of an international perspective for credit unions at the Irish League of Credit Unions (ILCU) 2024 Annual General Meeting in Limerick, Ireland.
World Credit Union Conference

Financial Summary
World Council consists of three entities:
AS A NOT-FOR-PROFIT ORGANIZATION, World Council of Credit Unions is being run on a balanced-budget basis while maintaining safe net asset (capital) levels. For 2024, consolidated WOCCU, WSG and WFCU operating results created a decrease of US$.28 million. Final net assets as of December 31 were US$7.2 million. Revenue totaled US$15.6 million for 2024. Grant revenues of US$9.9 million were 64% of total revenues. Grants from USAID were the most significant source of revenues.
Position
Consolidated Statement Of Financial Position
Assets (in USD Millions)
2024 2023
Current Assets
Cash & CDs $6.30 $7.79
Cash - Restricted Projects $0.25 $0.12
Receivables and Prepaid Expenses $1.41 $0.96
Other Assets
Investment in International CUs & Subsidiaries $2.28 $0.19
Furniture, Equipment & Leaseholds $0.03 $0.05
Totals
Total Assets $10.27 $9.11
Liabilities (in USD Millions)
2024 2023
Current Liabilities
Accounts Payable & Accrued Expenses $1.21 $1.10
Unearned Revenue $1.72 $0.39
Accrued Pension Liability $0.10 $0.10
Totals
Total Liabilities $3.03 $1.59
Net Assets (in USD Millions)
2024 2023
Net Assets
Unrestricted $3.82 $3.96
Unearned Revenue $3.00 $3.00
Totals
Total Unrestricted Net Assets $6.82 $6.96
Temporarily Restricted $0.42 $0.56
Total Net Assets $7.24 $7.52
Total Liabilities & Net Assets $10.27 $9.11
Activities
Consolidated Statement Of Activities
Revenues (in USD Millions)

2024
2023
Grant Revenues $9.99 64% $7.66 46%
Membership Dues $2.66 17% $2.63 16%
Conference Registration Fees $0.50 3% $3.95 24%
Supporter Contributions $1.49 10% $1.83 11%
Other Revenues $0.98 6% $0.55 3%
Totals
Total Revenues $15.62 100% $16.62 100%
Expenses (in USD Millions)

2024
2023
Trade Association/Meetings Activities $2.53 16% $5.11 29%
Grant Supported Development Activities $7.88 50% $5.84 34%
International Foundation $0.84 5% $1.78 10%
Activities Other $1.64 10% $1.81 10%
Administration & Fundraising $3.00 19% $2.82 16%
Totals
Total Expenses $15.90 100% $17.36 100%
Sub-Total $(0.28) $(0.74)
FAS 158 Adjustment $0.00 $0.00
Increase (Decrease) in Net Assets $(0.28) $(0.74)
Net Assets at Beginning of Year $7.52 $8.28
Net Assets at End of Year $7.24 $7.52
Our Membership
Direct Members
African Confederation of Cooperative Savings and Credit Association:
  • Botswana - Botswana Savings & Credit Association
  • Cameroon - Cameroon Co-operative Credit Union League, Ltd.
  • Congo - Association Professionnelle des Etablissements de Microfinance du Congo
  • Eswatini - Eswatini Association of Savings and Credit Co-operatives
  • Ethiopia - Savings and Credit Cooperative Development
  • Gambia - National Association of Cooperative Credit Unions of The Gambia
  • Ghana - Ghana Co-operative Credit Union Association Ltd.
  • Kenya - Kenya Union of Savings & Credit Co-operatives Ltd.
  • Lesotho - Lesotho Co-operative Credit Union League
  • Liberia - Liberia Credit Union National Association Ltd.
  • Malawi - Malawi Union of Savings and Credit Co-operatives, Ltd.
  • Mauritius - Mauritius Cooperative Savings & Credit League Limited
  • Nigeria - National Association of Co-operative Credit Unions of Nigeria Ltd.
  • Tanzania - Savings and Credit Cooperative Union League of Tanzania Ltd.
  • Uganda - Uganda Cooperative Savings & Credit Union, Ltd.
  • Zambia - National Association of Savings and Credit Unions
  • Zimbabwe - National Association of Cooperative Savings & Credit Unions of Zimbabwe
  • Seychelles - Seychelles Credit Union
  • Kazakhstan - Credit Unions of Agro-Industrial Complex Association-Kazakhstan
  • Nepal - Nepal Federation of Savings & Credit Cooperative Unions. Ltd. (NEFSCUN)
  • Singapore - Singapore National Co-operative Federation
  • South Korea - National Credit Union Federation of Korea
Caribbean Confederation of Credit Unions (CCCU)
  • Anguilla - Liberty Co-operative Credit Union of Anguilla
  • Antigua & Barbuda - Antigua & Barbuda Co-operative Credit Union League Ltd.
  • Bahamas - The Bahamas Co-operative League Limited
  • Barbados - Barbados Co-operative & Credit Union League Ltd.
  • Belize - Belize Credit Union League Ltd.
  • Bermuda - Bermuda Credit Union Co-op Society
  • Cayman Islands - Cayman Islands Civil Service Association Co-operative Credit Union Ltd.
  • Curacao - The Curacao Federation of Cooperatives - FEKOSKAN
  • Dominica - Dominica Co-operative Societies League, Ltd.
  • Grenada - Grenada Co-operative Credit Union League Ltd.
  • Guyana - Guyana Co-operative Credit Union League
  • Jamaica - Jamaica Co-operative Credit Union League Ltd
  • Montserrat - St. Patrick's Co-operative Credit Union
  • Saint Kitts & Nevis - St. Kitts & Nevis National Co-operative League Ltd.
  • Saint Lucia - St. Lucia Co-operative League Ltd.
  • Saint Vincent & the Grenadines - St. Vincent and the Grenadines Co-operative League, Ltd.
  • Croatia - Croatian Association of Credit Unions
  • Estonia - Estonian Union of Credit Cooperatives
  • Great Britain - Association of British Credit Unions, Ltd.
  • Ireland - Irish League of Credit Unions
  • Moldova - Central National Association of Savings and Credit Associations
  • North Macedonia - FULM Saving House
  • Poland - National Association of Co-operative Savings & Credit Unions (Poland)
  • Romania - Federation of Romanian Credit Unions
  • Ukrainian National Association of Savings and Credit Unions
  • All-Ukrainian Association of Credit Unions
  • Brazil - Sicredi Participações
  • Colombia - Federación Nacional de Cooperativas de Ahorro y Crédito Financieras
  • Costa Rica - Federación de Cooperativas de Ahorro y Credito de Costa Rica R.L.
  • Dominican Republic - Asociación de Instituciones Rurales de Ahorro y Crédito, Inc.
  • El Salvador - Federación de Asociaciones Cooperativas de Ahorro y Crédito de El Salvador (FEDACACES), R.L.
  • Guatemala - Federación Nacional de Cooperativas de Ahorro y Crédito de Guatemala - FENACOAC
  • Mexico - Caja Popular Mexicana
  • Panama - Corporación Fondo de Estabilización y Garantía de Cooperativas de Ahorro y Crédito de Panamá, R.L.
  • Peru - Federación Nacional de Cooperativas de Ahorro y Crédito del Perú
  • Canada - Canadian Credit Union Association
  • United States of America - America's Credit Unions
  • Australia - Customer Owned Banking Association

Associate Members
Confederação Nacional das Cooperativas de Crédito do SICOOB - Brazil
Cresol Confederação - Brazil
International Cooperative & Mutual Insurance Federation - Great Britain
International Raiffeisen Union (IRU) - Germany
Association of Asian Confederation of Credit Unions
Australia - Australian Mutuals Foundation
Bangladesh - Bangladesh Department of Cooperatives
Bangladesh - Central Association of Christian Co-operatives (CACCO) Ltd.
Bangladesh - Cooperative Credit Union League of Bangladesh Ltd. (CCUOB)
Cambodia - BORVOR FINANCEPLC
Hong Kong - Credit Union League of Hong Kong
India - Maharashtra State Federation Credit Cooperative Societies Ltd.
Indonesia - Credit Union Central of Indonesia
Indonesia - Pusat Koperasi Credit Union (PUSKOPCUINA)
Japan - National Cooperative Banking Association of Japan (Shinkumi Bank)
Malaysia - Association of Cooperative Credit Union
Malaysia - KoperasiKreditPekerja
Malaysia - Koperasi MCIS Berhad
Malaysia - Workers' Co-operative Credit Society (Malaysia)
Mongolia - Mongolian National Federation of Savings & Credit Unions
Myanmar - Central Co-operative Society Ltd -Myanmar - (CCSM)
Nepal - National Cooperative Bank Ltd. (NCBL)
Pakistan - The Federation Of Ismaili Co-Op. Societies Ltd.
Papua New Guinea - Federation of Savings and Loan Societies Ltd
Philippines - Card Mutually Reinforcing Institutions (Philippines)
Philippines - National Confederation of Cooperatives (Philippines)
Philippines - Philippine Federation of Credit Cooperative
Philippines - Philippines CLIMBS Life and General Insurance Cooperative (CLIMBS)
Sri Lanka - Federation of Thrift & Credit Cooperative Societies Ltd.
Taiwan, Republic of China - Credit Union League of the Republic of China
Thailand - Credit Union League of Thailand Ltd.
Thailand - Federation of Savings and Credit Cooperative
Supporting Members
ORIGENCE - United States of America
Saltus TUW - Poland
TruStage - United States of America
Turks and Caicos Islands Government - Ministry of Finance (Turks and Caicos Islands)
Velera - (United States of America)
WOCCU 2024-25 Board of Directors
Michael Lawrence
Chair
Customer Owned Banking Association
Joe Thomas
Vice Chair/Secretary
America's Credit Unions
Dallas Bergl
Treasurer/Chair of Audit & Risk Committee
America's Credit Unions
Linda Bowyer
Chair of Governance and Elections Committee
Credit Union Association
Manfred Alfonso Dasenbrock
Director
Confederação Interestadual das Cooperativas Ligadas ao Sicredi
Jeff Guthrie
Director
Canadian Credit Union Association
Hally O.D. Haynes
Director
Caribbean Confederation of Credit Unions
Younsik Kim
Director
National Credit Union Federation of Korea
Grace Badilla Lopez
Director
Federation of Savings and Credit Cooperatives of Costa Rica (FEDEAC R.L.)
Rafał Matusiak
Director
National Association of Co-operative Savings & Credit Unions
Helene Mcmanus
Director
Irish League Of Credit Unions
Erin Mendez
Director
America's Credit Unions
Jim Morrell
Director
America's Credit Unions
George Ombado
Director
African Confederation Of Cooperative Savings And Credit Associations