BOISE, Idaho -
The goal, according to the Idaho league, is to help the 159 credit unions in the South Pacific country to shore up their operations and expand services. Credit unions did not make their debut in the Solomons until the 1980s, and today serve 62,000 members. The country's credit unions, like the country itself, is still trying to recover from a tsunami earlier this year.
The visit is being organized in conjunction with the Credit Union Foundation Australia and the World Council of Credit Unions. Traveling to the Solomon Islands will be Shane Berger, chairman of the ICUL and CEO of Beehive FCU; Glenda Hart, vice chair of the league and CEO of Latah FCU, and league President Alan Cameron. The trio will visit with government officials in addition to credit unions.
"Solomon Island credit unions are a key component of the effort to bring financial stability to this country," Cameron said.
According to officials, 85% of the total population lives in rural areas with little or no access to basic financial services or infrastructure. Roads do not reach many rural areas, causing people to walk long distances to get anywhere.
Villages elect treasurers to hand carry the pooled savings of the MicroFinancial Rurl Resources Centers to the nearest road and then buy passage on a truck to take them to a credit union for deposit-often a two day trip.
The visit by Idaho's credit unions follows a three-year commitment to work together signed earlier this year by the ICUL and the SICUL. Later this year Solomon islanders will be visiting Idaho's credit unions.
Financial assistance for the trip is being provided by Idaho's league, WesCorp, CUNA Mutual Group and American Share Insurance.
