Challenge 2025

The Digitalization of the Global Credit Union System


A New Decade, A New Goal

In 2014, World Council of Credit Unions set a goal of reaching 260 million credit union members worldwide by 2020.

Through a concentrated worldwide effort, credit unions were able to reach our "Vision 2020" goal by 2017. But that growth was not even across all countries or among all credit unions. The credit unions that grew were those that offered core services via online and mobile channels. That is why we are now addressing how we increase membership going forward—through the digitalization of the global credit union system by 2025.

Measuring Global Digitalization

World Council will measure the digitalization of credit unions in four key areas for Challenge 2025.

Digital Channels

Offering members core digital transaction services such as online and mobile banking, online payments and online loan processing.

Shared Platforms

Connecting your credit union to a shared payments system that allows for mobile payments and integrated with a national payments system.

Risk Management

Implementation of a cybersecurity system that complies with national regulations to protect members' identity and consumer data from digital attacks and intrusions.

Data Analytics

Employing data analytics to determine additional service offerings to members, and helping to identify those that need financial literacy or counseling services.


Follow Our Progress, Tell Us About Yours

Track the latest developments in digitization by subscribing to our Challenge 2025 Blog. You can also send us updates on how your credit union or credit union system is striving to help us meet Challenge 2025 at

Eastern Caribbean Credit Unions Prepare to Implement ACH Solution with the Help of South Korean Colleagues

Denise Garfield, General Manager of CCCU, and Younsik Kim, Chair of NACUFOK
Denise Garfield, General Manager of CCCU, and Younsik Kim, Chair of NACUFOK

The National Credit Union Federation of Korea (NACUFOK) in June is helping the Caribbean Confederation of Credit Unions (CCCU) implement a pilot project to develop an automated clearing house (ACH) solution for credit unions in the eight nations that comprise the Eastern Caribbean Currency Union (ECCU).

The pilot is the next step in an initiative Worldwide Foundation for Credit Unions facilitated for the two World Council of Credit Unions' (WOCCU) member organizations through the Global Bridges program.

During the COVID-19 shutdown, a lack of digital products and services prevented Caribbean credit union members from utilizing financial services efficiently and effectively for everyday living.  

As a result, CCCU lobbied WOCCU’s former COVID-19 Committee for assistance in enhancing the digital capacity of its member credit unions. NACUFOK generously offered a three-year (2023-2025) grant to support a learning exchange, prepare a technical assessment of the digital capacity of the Caribbean credit union system, and formulate a plan to improve it.

What emerged was Caribbean Implementing Digital Experiences and Services (IDEAS)—which will start with a focus on credit unions in the ECCU, because they all use the same currency, the Eastern Caribbean Dollar. The ECCU is comprised of:

  • Anguilla
  • Antigua and Barbuda.
  • Dominica
  • Grenada
  • Montserrat
  • St. Kitts & Nevis.
  • St. Lucia.
  • St. Vincent and the Grenadines.

The initial phase of Caribbean IDEAS involved a learning and technical journey supported by NACUFOK, the Eastern Caribbean Central Bank (ECCB) and the Eastern Caribbean Automated Clearing House (ECACH) network. The culmination of phase one was the development of a strategy for CCCU to implement an Eastern Caribbean Credit Union ACH (ECCUACH) solution.

The parties worked together to first amend the regulatory structure in the Eastern Caribbean to allow the credit unions to participate in the ACH network.

The next phase allows for the establishment of a liquidity fund to act as the lender of last resort in order to meet ECCB and ECACH collateral and settlement requirements, and to conduct an ECACH pilot exercise.

From there, Caribbean IDEAS will establish, in order:

  • A Needs Assessment and Gap Analysis. Using the results of the pilot, the parties will identify any required updates needed to address the ECCUACH solution, along with a structure, timeline, budget and resource allocation.
  • ACH Solution Selection. Finalize the appropriate ACH solution that meets the needs and requirements of the credit unions.
  • Training and Support. Provide credit union staff training and support to ensure the effective use of the ECCUACH solution.
  • Implementation and Integration. Develop and execute a plan to implement the ECCUACH solution, including integrating it with existing credit union systems and infrastructure.
  • Monitoring and Evaluation. Establish routine monitoring and reporting mechanisms to assess the performance and impact of the ECCUACH solution on credit unions and their members.

Dense Garfield, CCCU’s General Manager, hopes Caribbean IDEAS is just the first step in a long relationship with NACUFOK to continue improving the digital capacity of her member credit unions.

“Our vision is to have an integrated Caribbean, where persons living and working in different member countries can do business seamlessly and have access to their funds,” said Garfield. “Additionally, I see other opportunities in terms of future technological advancements for the credit union sector that we can learn from NACUFOK.”

You can hear Denise Garfield talk more about Caribbean IDEAS on the latest episode of WOCCU’s Global Credit Union Podcast.