MADISON, Wis. — This being International Credit Union Week, Credit Union Journal asked Pete Crear, CEO of the World Council of Credit Unions, for his perspective on global credit union issues.
CUJ: What's different about the state of credit unions on International Credit Union Day 2009 than we've seen in previous years?
Crear: Needless to say, most credit unions across the U.S. and worldwide have never faced the challenges they do today. But on a global basis, we still see a continued growth in the number of institutions serving members and in the number of members being served. That says very positive things about the value and purpose of our movement.
CUJ: WOCCU recently urged the G-20 nations to consider credit union input. Given the scope of the financial crisis, can the credit union voice really be heard?
Crear: I think credit unions can and will be heard. At our urging, the International Accounting Standards Board has reviewed our recommendations that financial cooperatives be taken into account when considering new regulations and we've met with the chairman of the Basel Committee on Banking Supervision to discuss similar issues. The credit union difference and the way many non-profits have better served consumers during the current economic crisis are coming under scrutiny and our advantages are becoming more evident.
CUJ: By necessity, WOCCU has a broader perspective than the U.S.-based movement. What's happening in other countries to which U.S. credit unions should pay attention?
Crear: The cooperative model offers inherent opportunities for learning, and there ample lessons worldwide. In Poland and Brazil, a united marketing and branding effort has helped credit unions become the fastest growing financial institutions in their respective countries. In Mexico, new technology and
CUJ: Why should credit unions be involved in WOCCU?
Crear: Every credit union everywhere, large or small, exists because someone cared enough to lend a hand to get them started. We all have an obligation to extend that hand to others who face economic struggles. We are a global movement, and we all gain strength and benefit when we think and act like we are part of something larger. World Council involvement provides tremendous access to a wealth of benefits gained from credit unions worldwide. We can never ignore the obligation to serve, nor the opportunity to learn.
CUJ: What has brought you the most satisfaction during your term as WOCCU CEO?
Crear: My highest levels of satisfaction have come from the work we have done in Afghanistan and Russia. Both of these countries were unlikely candidates for credit union development. Today, both have growing memberships with more to come. Our new project in Haiti has many of us here at World Council excited because we know we can make a difference in the lives of poor Haitians much as we have done elsewhere around the world.
