MADISON, Wis. (7/17/13)--The Credit Union National Association Monday was recognized with the World Council of Credit Unions' 2013 Outstanding Member Growth Award.
| The Credit Union National Association with the World Council of Credit Unions' 2013 Outstanding Member Growth Award at the World Credit Union Conference in Ottawa, Canada. (Photo provided by the World Council of Credit Unions)
The award was presented at the World Credit Union Conference in Ottawa, Canada. The conference is presented through today by the World Council.
CUNA was honored for achieving its highest membership growth numbers in decades. U.S. credit unions include 96 million members nationwide. The National Credit Union Administration released figures in May that claim the fastest first-quarter loan growth for federally insured credit unions in five years, as well as dramatic membership growth of more than 800,000 new members (News Now May 30).
Aided by Bank Transfer Day, Nov. 5, 2011, credit unions added nearly 2.2 million new members in the 12-month period ended June 30, 2012, a total that is almost double the 1.2 million average growth credit unions have seen in similar 12-month periods over the previous decade (News Now Nov. 2).
Globally, there are 56,000 credit unions in 101 countries, Bill Cheney, CUNA president/CEO, said in accepting the award.
Cheney also shared CUNA's Unite for Good Campaign with the global credit union community.
The Unite for Good initiative calls on credit unions to rally in support of a common vision where "Americans choose credit unions as their best financial partner." Achieving the vision requires working toward three key objectives: removing legislative and regulatory barriers that obstruct credit union progress; raising consumer awareness and understanding of credit unions; and fostering movement-wide service excellence.
Kenya Union of Savings & Credit Co-operatives (KUSSCCO) was also recognized as a recipient of the World Council's 2013 Outstanding Membership Growth award. KUSCCO received the award for relative membership growth during a period when many countries in the region were experiencing a slowdown in membership growth.
Confederacao Interestadual das Cooperativas Ligadas ao Sicredi (SICREDI) was named the 2013 Winner of the World Council of Credit Unions' Outstanding Assets Growth Award. SICREDI received the award for relative asset growth, which reflects quality of service and community commitment of SICREDI credit unions and an aggressive member responsive growth strategy.