GLASGOW, Scotland-Poland's credit unions have come a long way in just 20 years, including a comprehensive collaboration aimed at cutting costs and raising awareness that exceeds anything currently being seen in the U.S.
In Poland, a group of six credit unions in January of 2010 formed Kasy Stefczyka, or a limited partnership known as the Stefczyk Credit Union Group (it has since grown to nine credit unions). Participating credit unions have agreed to unified methods of credit analysis, unified products (but with different pricing), unified design of branches, unified marketing, and currently have in the works unified rules for financial planning, methods or risk management and other consulting and advisory services.
In addition, those nine credit unions also have combined their backoffices for credit applications, HR management and more.
Speaking to the World Council of Credit Unions' World CU Conference, Andrzej Sosnowski, president of Stefczyk Credit Union, said the Stefzcyk Credit Union Group now has more than 300 experts in a variety of fields available to work with credit unions. To date, the credit unions in the group have shown strong growth, and represent 725,000 members (or 42% of the country's total membership).
All of the participating CUs are branded similarly, using the green-and-cream color scheme. The individual CU's name appears in the logo it uses, along with the Stefczyka brand. In 2010, all the participants posted strong earnings.
Plans are now to roll out two more initiatives: to build and service a network of small branch offices for sales to the local community, and to roll out SKOW Internet, which is aimed at younger members and at providing online and mobile services.
"For the future, we would like to build a stronger group under the brand of Stefczyk CU Group, becoming a major player in the consumer finance market in the long-term," Sosnowski said.
