MADISON, Wis. -- The Florida Credit Union League has inked a deal with SICREDI, a Brazilian credit union network, to facilitate an international partnership, according to the World Council of Credit Unions, which facilitated the deal.
World Council CEO Pete Crear, Chairman Gary Plank, Board Members Manuel Rabines (Peru) and Alcenor Pagnussatt (Brazil), and International Partnerships Manager Victor Corro spoke to members of the Brazilian press about the worldwide credit union movement while in Porto Alegre for a board meeting. Crear especially highlighted SICREDI's success and recognized it as one of the best among developed movements such as those in the United States, Canada and Australia.
SICREDI's 127 credit unions have been on shared branching for more than 10 years and operate under a unified brand throughout the country, a trusted image that has brought them much success, WOCCU said in a prepared statement. SICREDI's assets have grown at an average annual rate of 31.5% over the last four years, and membership has grown at an annual rate of 13.5% over the same period.
"This is a different kind of partnership. Both systems have everything credit unions need to operate soundly. So they'll be looking at enhancing individual credit union services, strengthening the systems and sharing experiences in liquidity investment."
SICREDI will also be looking at FCUL's experience transitioning from brick-and-mortar operations to online member services.
"We are eager to proceed in this endeavor and look forward to the wonderful opportunities this partnership will bring for both groups," said Guy Hood, FCUL president and CEO. "Such a partnership between Florida credit unions and SICREDI credit unions will provide each with valuable insight and information on how to do business the credit union way. Our thanks go to WOCCU for making this possible."
Just before the World Credit Union Conference in July, 20 SICREDI delegates plan to travel to Tallahassee, Fla., to meet their Florida partners for the first time and to plan future activities. --dmorrison@cutimes.com
