International Regulator's Group Formed

CALGARY, Alberta - A Credit Union Regulators Network has been formed by a group of 48 regulators representing 15 countries. The group was created during the fifth annual Regulators' Roundtable at the World Council of Credit Unions' (WOCCU) 2007 World Credit Union Conference here.

The idea was proposed by Andy Poprawa, CEO of Deposit Insurance Corp. of Ontario. Membership is open to those who have statutory supervisory authority for credit unions. Initially, each member will pay $200 to join the Credit Union Regulators Network and will also pay conference fees as part of a proposed annual meeting. The membership fee may be adjusted, depending on the size of the country's credit union system, according to WOCCU.

Acting as the group's first board members will be: Fredrick Odhiamba, Kenyan Ministry of Co-Operative Development and Marketing (Africa); Lyndon Kingston, Australian Prudential Regulatory Authority (Asia/Pacific); Andy Poprawa (Canada); Wictor Kaminski, National Association of Cooperative Savings and Credit Unions (Poland); Neri Matus, Central Bank of Belize (Latin America/Caribbean); Dave Marquis, National Credit Union Administration (U.S.) and James O'Brien, financial regulator, Ireland (Western Europe.) (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com