BUENA PARK, Calif.-Representatives from Japan's Agricultural and Fishery Cooperative Savings Insurance Corporation and the Norinchukin Research Institute visited with executives at California Agribusiness CU here recently to learn about the credit union cooperative business model.
In addition, one member of the delegation visited two community development credit unions-Mission SF FCU and Northeast Community FCU in San Francisco - to learn how they serve lower-income individuals.
California Agribusiness CU CEO Adam Denbo was joined by his executive team and California CU League Director of CU Development Tena Lozano to meet with the Japanese delegation, including Deputy Governor Hiroaki Funamoto and Deputy Director of the Planning Division Mitsugi Nakashima of the Agricultural and Fishery Cooperative Savings Insurance Corporation; as well as economist Shinya Furue, who works in the Financial and Investment Division of the Norinchukin Research Institute.
Similar to the FDIC and National Credit Union Administration, the Agricultural and Fishery Cooperative Savings Insurance Corporation administers Japan's savings insurance system, which protects depositors' money.
Furue expressed his interest in bringing the credit union business model back to Japan. He was particularly interested in learning how credit unions build and retain "firm relationships with members." Furue traveled to Mission SF FCU and Northeast FCU to learn more about low-income designated credit unions.
