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Brazil movement grows rapidly shares success
PORTO ALEGRE, Brazil (1/25/08)--The World Council of Credit Unions (WOCCU) is helping leaders from global credit union movements challenged by slow membership growth explore the successful growth strategies of the Brazilian credit union movement. The Confederação Interestadual das Cooperativas Ligadas ao SICREDI, better known as SICREDI, one of the country’s largest credit union systems, has averaged 15% membership growth and 30% asset growth annually for the past five years.
Brian Branch, center, World Council of Credit Unions executive vice president and chief operating officer, and Rod Staatz, president/CEO, State Employees’ CU, Baltimore, talk with Evelyn Haddad, executive Assistant to SICREDI President Alcenor Pagnussatt, in front of SICREDI’s Ouro Branco Cooperative in Teutonia, Brazil, as part of WOCCU’s Brazil Engagement Program this week. (Photo provided by the World Council of Credit Unions)
“The remarkable and sound growth of the SICREDI credit union system merits study by other national systems,” said Brian Branch, WOCCU’s executive vice president and chief operating officer. “The success of SICREDI’s centralized system of staff incentives, which are based on each credit union maintaining financial performance while hitting aggressive growth targets, has lessons for us all.“ Branch is leading an international delegation studying how SICREDI maintains its growth rates. WOCCU director Alcenor Pagnussatt, president of the SICREDI confederation, is hosting the delegation. Participating credit union leaders from the U.S. include Bill DeMare, CEO of Bay Gulf CU, Tampa, Fla.; Dick Ensweiler, president/CEO of the Texas Credit Union League; Lucy Ito, vice president of research, communications and public affairs for the California and Nevada Credit Union Leagues; and Rod Staatz, president/CEO of State Employees’ CU, Baltimore. WOCCU directors and officers Dan Burns, chair of Credit Union Central of British Columbia; John Gilbert, CEO of Cuscal, Ltd. of Australia; and Pete Crear, WOCCU president/CEO also are participating in the tour. SICREDI has established a branded image of financial soundness, service quality and community outreach enables its credit unions to outpace the banks’ growth in Brazil. Participants began their tour with a briefing on the vision and structure of the SICREDI system, its use of information technology and its governance structure. SICREDI has 129 member credit unions serving 1.2 million members through 1,013 points of service in 10 Brazilian states. The system holds $6 billion in assets and has five state-level corporate credit unions. SICREDI members have access to more than 100 products and services, including savings, credit, utility bill payment services, insurance, currency exchange and credit cards.
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