Mexican CU Considers Foundation

CAJA LIBERTAD, MEXICO - A delegation from Caja Libertad, the second largest credit union in Mexico, visited credit union foundations in the U.S. as part of the World Council of Credit Unions' International Partnership between Caja Libertad and the Arizona Credit Union System.

The delegation learned about state, national and international foundations and the impact the have to help them in establishing their own foundation.

"We currently fund financial literacy programs, health and wellness activities, programs that help to keep our cooperative culture alive and numerous community reinvestment initiatives, said Hugo Bustamente, president of the education directive and board member of Caja Libertad. "But, we think we can do more, through a separate foundation."

The group traveled to Arizona, Wisconsin and Chicago where they met with CU leaders, who shared everything from who decides how to spend funds and why, the grant request system and organizational structure, to how to find donors, business strategies, and fundraising.