ARLINGTON, Va. - Kenyan credit union regulator Patrick Khaemba had a full schedule during his recent visit to the U.S. to learn best practices from the American credit union system to improve Kenyan cooperatives. Among the many stops for Khaemba, who is the permanent secretary for the Kenyan Ministry of Co-operative Development and Marketing, were NASCUS, CUNA and the Pennsylvania Credit Union Association where he spent time during his World Council of Credit Unions-sponsored trip meeting with regulators, league and credit union trade executives. CUNA briefed Khaemba on the role and function of a national trade association for credit unions in the U.S., and the discussion covered pertinent topics and issues such as legislative affairs; political affairs; state government affairs; communications; and regulatory affairs. In addition, CUNA Chief Economist Bill Hampel provided an economic overview and Senior Vice President, League Services Susan Newton discussed how CUNA and the credit union leagues operate in partnership. During his visit with NASCUS, Khaemba emphasized he is interested in learning best practices from the American credit union system to improve Kenyan savings and credit cooperatives or SACCOs. He was particularly interested in state credit union supervision and the regulatory and examination processing, and he stressed that sound standards, reporting processes and oversight are important to the continued growth of Kenyan CUs. Kenya has the largest credit union movement in Africa. There are approximately 3,200 SACCOs. NASCUS discussed the diversity of the American credit union system and the differences between state and federal charters. The association said Khaemba expressed interest in the NASCUS accreditation standards for state supervisory agencies and their application as international best practices. He also learned about examiner education and gained insight on training standards for Kenyan cooperatives. Khaemba was accompanied on his visit by WOCCU's Technical Development and Regulatory Systems Manager Jesus "Chuy" Chavez who is working with Khaemba on new credit union laws and regulations for Kenya's cooperatives. During his visit with the PCUA, Khaemba had the opportunity to meet with staff from various departments as well as meet with Pennsylvania Department of Banking Secretary Bill Schenck and other department executives. He also toured the State Capitol building. -
ebarr@cutimes.com
