Uzbekistan Credit Unions Receive More Support from CUAO, WOCCU

BEAVERTON, Ore. – Uzbekistan’s credit union movement recently received more support by way of a partnership between the Credit Union Association of Oregon (CUAO) and the World Council of Credit Unions, Inc. At CUAO’s recent annual meeting, officials with CUAO and WOCCU signed two new partnership agreements, increasing the number of Uzbek partner credit unions to five. The partnership enables Uzbek credit unions to call upon CUAO and WOCCU for mentoring with operational and other related assistance. Larisa Yurikova, executive manager, Laspochka Savings and Credit Union; Gulnora Makhmudova, chairman of Baraka Savings and Credit Union signed the agreement along with Gene Poitras, CUAO president/CEO and Arthur Arnold, WOCCU president/CEO. WOCCU has assisted in the drafting and passage of credit union chartering and supervision legislation. Passage of the legislation enabled Tayanch, Umid and Sherdor credit unions to open in late 2002. Uzbekistan, a former republic of the Soviet Union with 24 million people located in Central Asia, achieved its independence in 1992.