WOCCU Chairman Addresses CU League of China AGM
Madison, WI-Recently, World Council of Credit
Unions, Inc. (WOCCU) Chairman, L.R. (Bobby)
McVeigh, addressed a gathering of dignitaries at
the Annual General Meeting of the Credit Union
League of the Republic of China (CULROC).
Attendees included Mr. Charles Yip, President of
the Asian Confederation of Credit Unions (ACCU),
Mr. Wallis Pelin, President of the Credit Union
League of China and other distinguished guests.
Mr. McVeigh's address thanked CULROC for its
continued efforts in the worldwide credit union
movement. Presently, CULROC consists of 345
credit unions representing more than 188,000
members and lists assets, in savings and loans,
exceeding 810 million dollars. Through ACCU's
associate membership, he noted, each credit union
in Asia is linked to the international credit
union movement, and he thanked ACCU for their
support and encouraged their further
consideration for full WOCCU membership in order
to enable Asian credit unions to take full
advantage of WOCCU's products and services, as
well as giving them voting rights in the general
He spoke of the important role that credit
in the Republic of China play in promoting
financial stability throughout the region and
their ability to ease the burden on growing
international tension. The Chairman then
applauded the cooperative efforts of CULROC
leaders as they sought to provide safe, sound
financial services to those without access to
Chairman McVeigh thanked President Wallis for
initiative in creating a project to strengthen
the connection between volunteerism and social
commitment in order to compel the government to
recognize their importance to the credit union
He also said that the League deserves government
recognition for its more than 40 years of
community linkages and volunteerism.
The Chairman also stressed that credit unions
exist to serve the larger, global community, "to
help people to help themselves," that
they, "contribute to the economic and social
progress of entire countries," and, "share the
human rights of financial empowerment, democracy
and equal opportunities." He further pointed out
that credit unions, "promote democracy, equality
and diversity – all underlying cooperative
principles essential to the 'new world.'"
The Chairman closed his address by pointing
the bright future for the credit union movement
and presenting the assemblage with new
challenges. He advised them to continue to look
to the future of the credit union movement by
providing more services to youth members. He also
recommended that they continue to follow the
principles of co-operation and self-help upon
which credit unions were initially built and that
guide the credit union movement today.
The complete text
of the Chairman's address can be found
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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.