WASHINGTON — Credit union trade associations brought their International Credit Union Day spirit to the nation's capital on Oct. 18.
CUNA and WOCCU held a joint reception at the Capitol to catch the attention of members of Congress and their staffs regarding their efforts toward international credit union development. The assistance is a two-way street, CUNA Vice President of Legislative Affairs Ryan Donovan explained. The state credit union leagues help provide their various partner-countries with technical expertise while the more global knowledge gained helps the credit unions back in the U.S. gain an understanding to serve emerging markets.
WOCCU Director Ron Hance, CEO of Heritage Family Federal Credit Union called International Credit Union Day "a time to reflect on the impact credit unions have around the world." He noted that war-torn countries like Afghanistan are getting their first taste of democracy through credit unions.
Recommended For You
Across town near Dupont Circle, the Maryland & District of Columbia Credit Union Association held an event at the Nicaraguan Embassy featuring Arturo J. Cruz Jr., Ambassador of Nicaragua to the U.S. "It's a wonderful opportunity for us to celebrate International Credit Union Day in the home of our partner in the Nicaraguan Embassy," MDDCCUA President/CEO Mike Beall said.
Noting the 40,000 credit unions operating world wide, he added, "We are a global force in consumer protection." Beall alluded to the league's recent victory in helping create a "payday lending-free zone" in Washington, D.C. with a mandated 24% APR cap.
Beall presented Cruz with a crystal vase and pledged to visit the Nicaraguan credit unions in 2008. The Nicaraguan credit unions serve 50,000 members and hold approximately $12 million in assets.
MDDCCUA Board Secretary Miguel Boluda Jr., president/CEO of PAHO/WHO Federal Credit Union, explained that the D.C. league, and subsequently MDDCCUA, has made four trips to Nicaragua and twice they have come to Washington, D.C., including at the association's annual conference in Ocean City, Md. this summer.
In addressing the crowd, Hance said he hoped that the nearly 30 international partnerships would grow to 50, representing each state in the U.S.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
