The $25 billion State Employees’ Credit Union in Raleigh, N.C., recently hosted a delegation of 17 emerging financial leaders from China interested in learning about the philosophy, practices and strategies of the not-for-profit cooperative industry.
As members of the Youth Federation of China, they represented four of China’s largest state-owned commercial banks, including Industrial and Commercial Bank of China, the Agricultural Development Bank of China the China Construction Bank, and the Export-Import Bank of China.
With over $2 trillion in assets, the Industrial and Commercial Bank of China recently purchased a bank in the U.S. with plans to expand its franchise. The delegation is the second group from China to visit SECU in recent years, the credit union said.
The Chinese delegation toured an SECU branch and the credit union’s Information Services area. SECU President/CEO Jim Blaine and Senior Executive Vice President Bobby Hall were among the credit union officers who met with the group.
The visiting delegates were in North Carolina for a five-day training program through North Carolina State University’s Global Training Initiative. Members of the Chinese delegation were interested in leaning about U.S. automation, Internet and mobile banking, SECU said.
“We sincerely appreciate the reception of the State Employees’ Credit Union leadership and the opportunity for questions and discussions,” said Zhou Bo of China Construction Bank, who led the delegation. “Compared to the banks in China, State Employees’ Credit Union is a very unique institution in terms of its purpose, ownership and management.”
Blaine said, “We are pleased to partner with North Carolina State University to share the philosophy, purpose and benefits of a financial cooperative with the visiting delegation. This visit really offered these emerging leaders the opportunity to see how SECU’s unique not-for-profit model functions in today’s financial marketplace through its practices, strategies and innovative services.”