Vermont FCU signs WOCCU partnership with Peru CU
Vermont FCU in Burlington, Vt., and AELUCOOP, the second largest credit union in Peru, signed a World Council of Credit Unions (WOCCU) international partnership agreement in Burlington Thursday.
The credit unions were assisted by the Association of Vermont Credit Unions (AVCU) and the Federacion Nacional de Cooperativas de Ahorro y Credito del Peru (FENACREP). The signing creates the second such partnership between Vermont and Peru credit unions, said AVCU (Newslines Express Oct. 8).
AELUCOOP Board Chairman Pedro Miyasato and Manuel Rabines, FENACREP president, spent Thursday meeting with Vermont FCU managers and staff at the credit union's Burlington and South Burlington offices. They learned the history of the credit union from President/CEO Bernie Isabelle, and received overviews of Vermont FCU's balance sheet from Vice President of Finance Jean Giard and of deposit and loan products from Vice President of Lending Lisa Randall.
Lance Potter, the credit union's vice president of information systems; Lori Crowley, assistant vice president of marketing; and Patrick Reeves, deposit operations manager, also provided information about Vermont FCU and interacted with the visitors throughout the day. WOCCU's Tom Belekevich provided translation services.
AVCU President Joe Bergeron and Rabines facilitated the signing of the international partnership agreement by representatives of the two credit unions. Isabelle said both financial institutions, and their respective trade associations and fellow member credit unions, will continue to benefit from the cooperation that the WOCCU program fosters.
"These international partnerships are another example of the collaborative spirit and efforts that have become commonplace in the credit union movement," Isabelle said. "The information disseminated and the friendships developed in these arrangements will help us all in our ultimate goal of serving our members. These partnerships also reinforce the worldwide credit union concept of 'people helping people' which will further differentiate us from the 'for profit' institutions in our respective marketplaces."