Russian CUs Get PEARLS Training

SIBERIA, RUSSIA - World Council of Credit Unions representatives trained 150 Russian credit union executives and government officials on effective regulation and strategies to increase outreach at the Russian Credit Union Forum in Siberia last month.

At the forefront of discussions was amending the current credit union law to include prudential standards for regulation and removing the 2,000 limit on credit union membership.

WOCCU staff and United States league representatives also trained attendees on the PEARLS financial monitoring system and marketing strategies in order to prepare credit union leaders for future changes in the law.

Since the Russian Credit Union League became a World Council Member in 2005, it has worked to institute PEARLS in its member credit unions.

PEARLS is the first system-wide software to be used among RCUL members, and the training at the forum was the first of its kind in Russia.

Earlier this month, WOCCU Senior Manager of Technical Services John Kalfayan and Louisiana CU League CEO Anne Cochran traveled to Moscow to further develop the Russian credit union training program.

World Council, RCUL and Poland's National Association of Co-operative Savings and Credit Unions will also co-host the first regional credit union congress for Eastern European countries in Moscow, Russia, Sept. 10-14.