Washington CU League, WOCCU sign Philippines project partnership

FEDERAL WAY, Wash. - The Washington Credit Union League and the World Council of Credit Unions have sealed a historic partnership agreement to help further the credit union movement in the Philippines. WCUL president/CEO John Annaloro and WOCCU Program Director Lois Kitsch signed the Credit Union Partnership Agreement July 12 between the two organizations to "establish cooperative partnership for the benefit of the Washington and Philippine credit union/cooperative movements." Filipino Congressmen Agapito "Butz" Aquino and Cresente "Chris" Paez congratulated the two organizations for the alliance. Aquino and Paez arrived in Washington two weeks ago on a five-day fact-finding mission to learn about the U.S. credit union regulatory and legal system (Credit Union Times, July 19). More than 15 top Washington State credit union executives, along with three state legislators and two members of the WOCCU, joined Aquino and Paez in applauding the alliance. Among the provisions of the agreement, WCUL and WOCCU will assist in the development and implementation of services for cooperatives/credit unions; create direct training opportunities; exchange information, expertise and experience; and ensure dissemination of CU ideals in the U.S. and the Philippines. "The Philippines is about 70 years behind the U.S. regarding credit unions," said Aquino. "However, we were a conquered national for several decades and we are just beginning to find our roots and stand on our own feet. But one of the greatest things we have received from America is the education we are receiving on how we can financially empower our people. We are excited about this important partnership and what it means to my country."