World Council Board Appoints Two New Directors
WCUC 2019 Tuesday general session also features keynote address from Pippa Malmgren
July 30, 2019
The Board appointed Allison Chaytor-Loveys (Canadian Credit Union Association) and Charles Murphy (Irish League of Credit Unions) as new directors. Chaytor-Loveys takes the seat formerly held by Kevin Sitka and will serve a two-year term, while Murphy will finish out the final year of Brian McCrory's term.
Chaytor-Loveys is also a CCUA Board Director and serves as CEO of Newfoundland and Labrador Credit Union (NLCU). During her 15-year tenure as CEO of NCLU, the organization has won provincial, regional and national awards for creating a model work environment, providing exceptional member service, producing innovative marketing campaigns and making important contributions to communities.
Murphy is in his seventh year on the Irish League of Credit Unions’ Board of Directors—serving as President from April 2017-19. He also serves as a board director for Slane Credit Union and ECCU Assurance DAC—the ILCU’s own life assurance company.
Board members Carla Cicero (CUNA) and Diana Dykstra (CUNA) were reappointed for two-year terms, while Jaime Chavez (FECOLFIN-Colombia), Younsik Kim (NACUFOK-Korea) and Rafal Matusiak (NACSCU-Poland) were all reelected to two-year terms on the 14-member body.
"Being a director for the World Council of Credit Unions requires that one step out. It requires commitment to step out from one's framework, from one's comfort zone and to providing service to our global credit union system," said World Council President and CEO Brian Branch.
The World Council Board’s committee officers for 2019-20 are:
Steve Stapp, Chair/Human Resources Committee Chair/Executive Committee Chair – USA
Rafal Matusiak, Vice Chair/Secretary – Poland
Diana Dykstra, Treasurer/Chair of Audit & Risk Management Committee - USA
Martha Durdin, Chair of Governance & Elections Committee - Canada
Malmgren prepares credit unions for digital money, data analytics
There are radical changes occurring in the world of money—and credit unions need to be prepared.
That was the message from economic trend forecaster Pippa Malmgren in her keynote address during Tuesday’s general session at WCUC 2019.
Malmgren, who served as an advisor in President George W. Bush's White House and on his National Economic Council, said it is important for credit unions to study the new types of digital currency and payments—because it will soon transform the way they do business.
"China has announced they want to launch their own, sovereign cryptocurrency. The European Union has announced that they want this. I think the American authorities are looking at this very carefully. The British are too," said Malmgren.
Malmgren said credit unions also need to consider using data analytics to better understand member needs—and to figure out how to attract new members.
"Whatever assumptions you have about where economic opportunity is occurring, leave them to the side, because it’s moving—and it’s moving with data," said Malmgren.
Still to come
Tuesday afternoon at WCUC 2019 features a breakout session on how the World Council and Visa are partnering with Visa to create a new digital financial product for under-banked consumers and small- to medium-sized enterprises in Kenya.
The 2019 World Credit Union Conference is presented in collaboration with the Caribbean Confederation of Credit Unions (CCCU). It runs through Wednesday, July 31.
World Council of Credit Unions is the global trade association and development platform 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 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.