ASUNCION, Paraguay-With credit unions in Paraguay playing an increasingly greater role in their members' lives, government regulations and oversight to expand service are critical to growing those CUs, lawmakers were told by a visiting delegation from the World Council and the Minnesota Credit Union Network (MnCUN).
The credit unions, visiting at the invitation of Central de Cooperativas del Area Nacional (CENCOPAN), WOCCU's member organization Paraguay, have been part of WOCCU's International Partnershps Program since 2004. CENCOPAN raised the need for outside advocacy efforts after a 2008 shift in the Paraguayan government brought an end to the former political party's 61-year administration. Alianza Patriótica por el Cambio (Patriotic Alliance for Change) is comprised of eight political parties that CENCOPAN officials felt needed to better understand the role that Paraguayan credit unions play in their members' lives, according to Modesto Segovia, CENCOPAN board chair.
Credit unions in the country have a penetration rate of approximately 20%, and in addition to offering financial services, many CUs host on-site healthcare facilities, including pharmacies and emergency medical units.
The Minnesota delegation included Jeff Schwalen, president of Hiway FCU, and Dick Nesvold, CEO of SouthPoint FCU. Victor Miguel Corro, WOCCU senior manager of the International Partnerships Program was also on hand.
