ST. PAUL, Minn. -- The Minnesota Credit Union Network participated on the welcoming end of a regulator exchange with Paraguay last month as part of the league's WOCCU international partnership with Paraguayan credit union association Central de Cooperatives del Area National Ltda. (CENCOPAN).
The three visitors from Asuncion, Paraguay, included IT consulting firm President Juan Luis Ferriera, CENCOPAN Vice President Pedro Elias Loblein Saucedo and cooperative institute Director Maria Mercedes Ortega Martinez. The group was particularly interested in regulations and technology.
"Many of the main ideas behind the regulations in the United States and Paraguay are the same. The difference is in the methodology and the processes," said Saucedo. "Our goal is to use the information we learn during this trip to examine the Paraguayan regulations and make the regulatory process more practical and efficient."
The group visited the $171 million SouthPoint FCU, the $89 million St. Paul FCU, the $1.2 billion Affinity Plus FCU, and check processing CUSO Minnesota Item Processing. The group also attended the Minnesota Network's annual meeting as honored guests.
The group also ventured outside credit unions, stopping at the Minnesota Department of Commerce to discuss state charters and regulation, and meeting with Commerce Committee Chairman State Rep. Joe Atkins (DFL-Inver Grove Heights) and Minority Leader State Sen. Dave Senjem (R-Rochester) to talk legislation.
"The Minnesota Credit Union Network is honored and proud to have such a strong relationship with CENCOPAN," said Mark D. Cummins, league president/CEO.
"The partnership allows both associations the opportunity to learn from each other's strengths and help each other in the areas that need improvement. More than that, the relationships formed through this partnership enable us to strengthen the credit union movement."