Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
WOCCU Unfettered cooperatives maximize access
WASHINGTON (2/27/08)--Consumers in Latin America need comprehensive financial services, and untaxed cooperatives can provide them with more affordable services, said the World Council of Credit Unions (WOCCU) during “Financial Inclusion in the Americas,” a two-day conference on consumer finances. The conference brought together 80 participants including industry officials from the U.S., Mexico, Guatemala, Honduras and El Salvador, to discuss how the countries can create more inclusive and broadly available services for their citizens. “In our experience, credit union systems grow and provide greater outreach when they are able to offer necessary products and services,” said Dave Grace, WOCCU vice president of association services. “The credit unions require unfettered access to payment systems, credit bureaus, card service providers and networks in order to do that.” Credit unions in Latin American countries are struggling in a share draft battle similar to the one U.S. credit unions fought in the 1970s, Grace said. “Of the countries represented, only Guatemala requires credit unions to pay income tax,” he added. “Taxation can be a threat to credit union survival, and ensuring tax exemption is a clear and demonstrable way for governments to encourage access to financial services.” The U.S. Treasury Department is in favor of increased credit union access to the population and has agreed to provide technical assistance to the four Latin American countries to broaden access to financial services, Grace said.
Other Resources

RSS





print
News Now LiveWire
Consumer credit ticks up slightly in Jan http://t.co/nAmR7fyGLi
38 minutes ago
RT @cumagazine: Make a good impression during your #CUNAGAC Hill visits: 8 tips http://t.co/C4gtRbQG2s
1 hour ago
Taking a walkthrough before #CUNAGAC starts this weekend. http://t.co/k9hktHjm9b
2 hours ago
There will be lots of social media action at 2015 #CUNAGAC that starts in D.C. this Sunday. http://t.co/vyP4XbtFbk
2 hours ago
.@AACUC1 is part of a group of credit union organizations to introduce a new mentor program for small credit unions http://t.co/2vFE45ZnEW
2 hours ago