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CU System
Estonia is newest WOCCU member
MADISON, Wis. (8/24/09)--The Estonian Union of Credit Cooperatives (EUCC), which represents credit unions in the former Soviet satellite country of Estonia, is World Council of Credit Unions' (WOCCU) newest member. At its annual meeting last month in Barcelona, Spain, WOCCU's board of directors unanimously approved EUCC’s designation as affiliate member, the second member organization in the relatively new WOCCU membership category. “We’re seeing a groundswell of credit union activity in Eastern Europe, with more countries finding that the cooperative model provides significant advantages to their citizens,” said Pete Crear, WOCCU president/CEO. EUCC, founded in 1999, represents most of Estonia's 15 credit unions, which account for 91% of the country’s credit union members and 73% of credit union assets. In April 2008, Estonia joined with the Virginia Credit Union League as part of WOCCU's International Partnerships Program. A delegation of Virginia league and credit union representatives visited Estonia last year to review the country’s credit union operations and challenges. The two groups will continue working together to address those challenges. WOCCU’s affiliate category is designed for smaller organizations representing fewer credit unions. Earlier this year, the WOCCU board approved affiliate membership status for the Azerbaijan Credit Union Association. “Creating a dues category that enables smaller organizations to join WOCCU helps foster greater growth of the global credit union movement,” Crear said. “Broader membership ranks mean more credit union members are being served in more countries worldwide. That's WOCCU's goal, and it is the goal of all our member organizations.”
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