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Dill Ecuadors CUs effectively serving members
QUITO, Ecuador (7/3/08)--Ecuador’s credit unions have shown sufficient development to operate more independently and with an eye to greater growth, said John Dill, president/CEO of the Credit Union Associations of Colorado and Wyoming.
Victor Miguel Corro (left), World Council of Credit Unions International Partnerships Program manager; John Dill, president/CEO of the Credit Union Associations of Colorado and Wyoming; and Jorge Huertas, Coopad general manager, met in Ecuador during Corro and Dill’s recent visit to assess credit union development. (Photo provided by the World Council of Credit Unions)
The associations have partnered with Ecuador’s credit unions through the World Council of Credit Unions (WOCCU) International Partnerships Program since 2000. Dill visited with Red Transaccional Cooperativa (RTC), the largest credit union network in the country, in June. “Ecuadorian credit unions are pioneering many cutting-edge services for their members,” Dill said. “There is a need for Ecuador’s credit union movement to begin building a strong country-wide trade association in order to advance the business and advocacy interests of the movement in Ecuador and to safeguard the many forward strides that credit unions have made in just a short time,” Dill said. Dill, who was accompanied by Victor Miguel Corro, WOCCU International Partnerships manager, spent three days in Ecuador’s capital, Quito, meeting with RTC executives, board members and member credit unions. He also met with staff at Quito credit unions Cooprogreso and Coopad to review the services RTC offers its member credit unions. Dill traveled to Cuenca, Ecuador’s third-largest city, to assess the use of RTC products in two other credit unions. RTC allows members to access mainstream and modern financial products such as remittances, national shared branching, payment services, ATMs and debit card services. RTC offers international shared branching, a project accomplished through the WOCCU partnership with the help from Credit Union Service Centers, the Credit Union Associations of Colorado and Wyoming, CO-OP Shared Branching and software provider Multisoft. About 29 of 38 regulated credit unions in Ecuador belong to RTC. They offer members 154 countrywide points of service and 3,000 more abroad. “Credit unions in Ecuador are relatively new institutions vis-à-vis American credit unions, and therefore are clearly focused on providing new alternative financial services to the average Ecuadorian who has largely been shut out of other institutions,” Dill said. “As a result, membership growth is generally high, and the emotion and enthusiasm for the credit union model is inspiring to those of us who represent more mature credit union movements.” Dill also discussed an English Immersion Executive Program with credit union executives from Jardin Azuayo, a progressing credit union involved in mobile banking, which enhances member services through the use of technology. Jardin Azuayo would like to visit other credit union systems to study state-of-the-art technology solutions. The idea for the program came from WOCCU’s Hispanic Marketing Immersion Program. A pilot program involving Colorado and Wyoming is in the planning stages.
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