MADISON, Wis. - The World Council of Credit Unions (WOCCU) joined Development International Desjardin of Quebec, Canada and Socodevi-a conglomerate of 11 different cooperative development groups in Canada-in a March 15-debate concerning the United Nations Development Program/Special Unit for Microfinance's policy on the appropriateness of providing loan capital to savings-based microfinance institutions. The participants were asked to address how access to grant/loanable capital affects savings mobilization, governance structures, and growth and profitability. WOCCU representatives explained that the organization's position against external funding "is primarily an economic and institutional sustainability issue." Among the reasons they offered for their position were that "where a credit union relies solely on external funding for loans, the board of directors often does not assume the same level of ownership and responsibility for the financial health of the institution."
WOCCU participates in UN policy debate
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