Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Asian CU confederation turns 40
BANGKOK, Thailand (5/4/11)--The Association of Asian Confederation of Credit Unions (ACCU) is celebrating its 40th anniversary--on the heels of World Council of Credit Unions (WOCCU) marking the same milestone.
Click to view larger image Andrew So (standing), first president of the Asian Confederation of Credit Unions, lectures before a credit union group in this 1971 photo.
Click to view larger image World Council of Credit Unions General Manager A.A. “Paddy” Bailey (left) signs the documents that help form the Asian Confederation of Credit Unions in 1971. (Photos provided by the World Council of Credit Unions)
Bangkok-based ACCU was launched April 28, 1971, as the Asian Confederation of Credit Unions with the help of WOCCU officials and Asian credit union leaders. The organization celebrated its 40th anniversary year last week at its conference in Thailand. ACCU was founded by credit union systems representing Hong Kong, Japan, Korea, the Philippines, the Republic of China and Taiwan. It serves 13 regular and associate members, 18 affiliate members and 44 supporter member credit unions representing 10 countries. The genesis of ACCU was at WOCCU’s fourth regional Training Conference, themed “The Future is Asian,” held at the International Cooperative Education Institute in Seoul, South Korea, in April 1971. WOCCU General Manager A.A. “Paddy” Bailey was one of the officials who helped usher ACCU into existence. The organization named Augustine Kang, then WOCCU’s Asian representative, as its first general manager. “ACCU owes its success to the many men and women who in past years devoted their lives to translating the ideal of brotherhood into an everyday reality,” said Andrew So, who served as president of ACCU’s founding board of directors and spent 10 years as a WOCCU board member. ACCU’s member organizations serve more than 38 million people. ACCU’s conference this year attracted 380 representatives from 21 Asian nations, and Thailand’s finance minister, Korn Chatikavanji. “Asia’s role in the global economy has never been greater, as evidenced by the strong presence of Asian countries in the Group of 20 (G-20) nations,” said Dave Grace, WOCCU senior vice president of association services who attended the ACCU conference. “A strong global credit union system needs Asia's credit unions to play a significant role. From supervisory structures to [information technology] systems, there is much to be learned from the Asian credit union movement, and we congratulate ACCU on this milestone.”
Other Resources

RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
17 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
17 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
20 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI.
20 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
22 hours ago