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Largest CU in Poland visits CCUL
RANCHO CUCAMONGA, Calif. (5/21/08)--Polish credit union officials, media, and the president of Poland’s largest credit union, recently spent a day at the California Credit Union League learning how credit unions operate in the U.S.
Click to view larger imageA 20-member delegation of Polish credit union officials, media and the president of Poland’s largest credit union recently spent a day at the California Credit Union League’s headquarters learning how credit unions operate in the U.S. (Photo provided by the California Credit Union League)
The 20-member delegation listened to presentations by league staff on the credit union mission and principles, social and economic role of credit unions, credit unions’ position on U.S. and California financial markets, role of the league and other apex organizations in the California credit system, and forms of state support towards credit unions. "Poland’s credit union officials were most concerned with what our credit unions are doing to help members affected by the subprime crisis,” said Sylvia Faith, league senior vice president of business services. “Apparently, Poland is experiencing its own housing downturn.” Over the last few years Polish credit unions have provided their members with 100% mortgage loans and home values have now depreciated, according to the delegation. Poland’s visit to the league coincides with the introduction of new proposals to amend the Polish cooperative law, including the Co-Operative Savings and Credit Unions Act. Journalists had the opportunity to get acquainted with the credit union system as well as the legal solutions applied in the U.S. Polish officials mentioned that it’s crucial for their media to understand the credit union philosophy. Credit unions in Poland face the same arguments from banks that credit unions do in the U.S. “The California credit union system can be proud of its successes and I’m happy we were able to show this to Poland’s journalists,” said Grzegorz Bierecki, president, National Association of Cooperative Savings and Credit Unions in Poland. “This experience will help them to understand what role credit unions can play in Poland.” Poland is the third country in recent weeks to send credit union officials to Southern California. The league hosted a Chinese rural credit cooperative delegation May 9, and in April, officials from India met with league staff and toured two Los Angeles-area credit unions.

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