Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Fox Co-ops critical to solving global crisis
GUANAJUATO, Mexico (5/29/09)--Cooperatives will play a critical role in creating a stronger economic future, according to Vicente Fox, former president of Mexico and co-president of Centrist Democrat International. Fox will share this message with attendees of the World Council of Credit Unions’ (WOCCU) World Credit Union Conference July 26-29 in Barcelona, Spain. He is scheduled to give the keynote address. “It’s time to recompose, re-energize and reshape the global financial system to take on its proper role in serving people,” Fox told WOCCU recently. “We came into the current economic situation after experiencing our best decade in terms of reducing global poverty.” Financial cooperatives, including credit unions, provide the necessary component in serving millions of people, especially the rural poor, and it will be critical to expand those services, he added. “Cooperatives do their best work in helping stabilize communities and creating peaceful environments,” Fox said. “We all have to keep reaching for the best system possible to make sure that every citizen in the world has access to financial services.” Fox helped revitalize Mexico’s “broken” financial system when he became president in 2000. He was inspired by Grameen Bank, which was created by 2006 Nobel Peace Prize winner Muhammed Yunus. He worked to improve Mexico’s credit union system with help from WOCCU and credit union leagues and institutions. “If I could speak to the [Group of 20] nations, my most passionate recommendation would be that, in order to increase growth and prosperity among the poor, cooperative financial systems must be considered at the same levels as the banking system,” Fox said. “But they must be governed with rules and oversight appropriate to their cooperative natures.” For more information, use the link.
Other Resources

RSS





print
News Now LiveWire
Which Children's Miracle Network Hospital is the winner of @CUDirect's 20 for 20 grand prize? Find out Tuesday.
4 hours ago
Gas prices have fallen for a record 88 days in a row says @AAAnews via @washingtonpost http://t.co/c52VTdqHEB
7 hours ago
.@TheNCUA releases regulatory modernization initiative results (PDF link) http://t.co/pgLZe4aget
7 hours ago
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
8 hours ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
9 hours ago