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

Washington
WOCCU briefs Hill staff on Afghanistan plan expansion
WASHINGTON (4/9/10)--The World Council of Credit Unions (WOCCU) is working to expand the number of member-owned Islamic investment and finance cooperatives (IIFC) in Afghanistan, and WOCCU senior vice president Barry Lennon told an audience of congressional staffers on Thursday that he “expects more growth” as word of the financial cooperatives spreads. Afghanistan’s IIFCs, which WOCCU says are growing by 1000 new members each month, held $8 million in total assets at the end of 2009. WOCCU will establish the Afghanistan IIFC Banking Association to oversee those IIFCs and “provide a framework for consolidation.” (See related story: WOCCU expands Islamic CUs in Afghanistan) The U.S. Agency for International Development (USAID) late last year awarded WOCCU $60.5 million to expand financial services in southern and eastern Afghanistan. The IIFCs are, in many cases, the only option for financial services in rural areas of Afghanistan. However, the pending expansion of these IIFCs will bring them to the capital city of Kabul, where several Afghan banks currently operate.


RSS





print
News Now LiveWire
Cornerstone CU Union Foundation says it's prepared to assist #CUs & their employees affected by severe storms in Arkansas and Oklahoma.
9 hours ago
In 2014,use of remote deposit capture experienced 13% increase to 51%. But checking a balance continued to B the most common mobile activity
9 hours ago
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
12 hours ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
15 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
18 hours ago