Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
WOCCU efforts contribute to European Parliament report
BRUSSELS, Belgium (5/2/08)--A report adopted April 22 by the European Parliament on volunteerism contains the first formal definition of credit unions to be included in a European Union (EU) document. The definition was added as a result of lobbying efforts by the World Council of Credit Unions (WOCCU). Authored by Marian Harkin, the European Parliament Rapporteur and an Irish member of the European Democrats Party, the report promotes the value of volunteerism and designates 2011 as the European Year of Volunteering. It includes a reference to the role credit unions play with regards to volunteerism. The reference reads: "…(W)hereas volunteers play an important role in achieving the Lisbon Strategy goal of socio-economic cohesion by contributing to financial inclusion, for example, by establishing credit unions which are regulated and not for profit financial cooperatives, run and governed by volunteers." The reference was supported by WOCCU in collaboration with consulting firm Policy Action Ltd. It is the first formal reference in an official EU document that defines credit union ownership and governance. It makes possible the use of the report to influence other EU decision-makers, according to Dave Grace, WOCCU's vice president of association services. "The reference to credit unions is part of a much larger, further-reaching document on the importance of volunteerism with European Union countries," Grace said. "Thanks to Marian Harkin's efforts, this is a big step forward for credit unions."
Other Resources

RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
10 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
11 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
13 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
14 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
14 hours ago