Banker Seeks CU Membership

DUSHANBE, TAJIKISTAN - During a recent visit to the United States to learn about the U.S. banking industry, Tajikistan banker Izatoullo Lalbekov became so impressed with the CU industry that he asked if he could become a member.

Lalbekov and fellow Tajikistan bankers were touring several financial institutions in the Dallas/Fort Worth area to examine the domestic banking and international lending practices of U.S. financial institutions.

The visit, coordinated by the North Texas Council for International Visitors, included tours of several banks and one credit union-Credit Union of Texas-in the Dallas/Fort Worth area.

Apparently, Lalbekov, who is board chairman of Tojiksodirotbank, an open joint-stock company in Tajikistan, was so impressed with the cooperative system that he asked Credit Union of Texas COO John Sutton for a membership application.

Sutton had earlier shared insight on the history of the credit union movement as well as how the industry has evolved since its humble beginnings.

While there are no credit unions in Tajikistan, the visitors were interested to learn more about credit unions, including similarities and differences between credit unions and banks.

The group did explain that while they don't have credit unions, they do have credit co-ops that seem to be more similar to credit unions than to banks.

The Republic of Tajikistan is a small country-about the size of Wisconsin-sandwiched between Afghanistan to the South, Uzbekistan to the West.