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CU System
WOCCU welcomes Ghana Seychelles as new members
MADISON, Wis. (1/5/09)--The Ghana Co-operative Credit Union Association (CUA) and Seychelles CU have joined the World Council of Credit Unions (WOCCU). The WOCCU board approved membership for both African organizations, effective Monday, in San Diego in November. The board also approved the transfer of WOCCU's Australian membership from current member Cuscal Ltd., a wholesale provider of capital, liquidity and financial services products, to ABACUS, the trade association for Australian credit unions and mutual building societies. The change, effective Monday, coincides with the retirement of John Gilbert, Cuscal president/CEO, who will end his tenure as a WOCCU director. Gilbert's WOCCU board position will be assumed by Louise Petschler, ABACUS CEO. “We're very pleased with our continued growth and our ability to serve more members in Africa, one of the world's fastest-growing credit union markets,” said Pete Crear, WOCCU president/CEO. “Along with the changes in Australia, our new members reflect a continued strengthening of the global credit union market and its increased ability to serve even more people worldwide.” CUA, founded in 1968, had previously been affiliated with WOCCU through its membership in ACCOSCA, the African regional credit union confederation. CUA has 322 member credit unions that serve 242,000 individual members throughout Ghana and hold $107 million in total assets. CUA's acceptance as an independent WOCCU member marks a major step forward for the association's development, according to Emanuel Darko, CUA's general manager. “The dream of CUA's board of directors and management was to become a member of World Council of Credit Unions,” Darko said. “I am sure the board, management and the entire membership of Ghana's credit union movement will welcome the good news with great joy.” Seychelles CU serves inhabitants of the Seychelles islands off Africa's eastern coast and is the country's only credit union. It serves 10,620 members and has $8.7 million in assets. The institution also serves as the de facto national credit union association for WOCCU membership. Representatives from CUA, Seychelles CU and ABACUS will be introduced and given the opportunity to speak to delegates at WOCCU's next annual general meeting, to be conducted with the 2009 World Credit Union Conference, July 26-29, in Barcelona, Spain.
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