Panamanian Delegation Travels to Iowa to Advance the International CU Movement 3/21/2006
Murray Williams
Director of Public Affairs and Strategic Alliances
Iowa Credit Union League
515-221-3003
murrayw@ia-icul.org
Des Moines, Iowa—The Iowa Credit Union League will be hosting representatives from the Panamanian credit union movement and the World Council of Credit Unions (WOCCU) March 27-30 in an effort to advance the international credit union movement and their “People to People Partnership” exchange.
Several representatives from COFEP— the Panama credit union trade organization—will be visiting Iowa to learn more about the state’s credit union system. Pat Jury, president-designee of the League, said, “Our goal with this partnership is to champion the credit union philosophy of people helping people by providing assistance on an international level.”
In August 2005, representatives from the League, Iowa credit unions and World Council of Credit Unions (WOCCU) traveled to Panama to learn more about Panama’s credit union structure. While Panama has a sound credit union movement in place, they are working to develop a more structured regulatory system, Jury said.
"In the United States, credit unions are a product of the legislative and regulatory process, so we have much experience in that arena," he said. "COFEP told us this is one area where Iowa could provide them with counsel and support."
During their visit in Iowa, the Panamanians will be visiting credit unions of various sizes to get a better understanding of the types of services Iowa credit unions offer their members. The League will also be taking the Panamanians to visit the state credit union regulator and the state Capitol to where they will meet with legislators and learn more about the grassroots and lobbying aspect of the Iowa credit union movement.
On March 28, from noon to 1:30 p.m., the Panamanians will be attending the “Serving the Underserved Summit” hosted by the Iowa Credit Union Foundation at HyVee Hall in the Iowa Events Center. At that time, the League and representatives from COFEP will sign an official agreement that will formalize their international “People to People Partnership” to strengthen the international credit union movement. Note: this conference is for the benefit of credit union representatigves and is not open to the general public.
COFEP and the League are working to establish immediate and long-term goals for the relationship, and will continue to have ongoing dialogue and visits to ensure both parties are benefiting from the relationship.
COFEP was formed in 1985 by U.S. credit unions in the Panama Canal Zone in order to provide a stabilization fund, guarantee fund and consulting for credit unions to preserve their financial well-being and the savings of their members. Currently, 84 Panama credit unions belong to COFEP, which represents 112,000 of the 135,000 credit union members of those who live Panama.
The Panamanians will be available for pre-arranged interviews on March 28 from 1:30 p.m.- 2 p.m. at HyVee Hall, ground floor. If you would like more information regarding the visit or scheduling an interview, please contact Murray Williams at (515) 221-3003 or murrayw@ia-icul.org.
The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their 850,000 members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. For more information on the League and Iowa credit unions, visit the Media section of IowaCreditUnions.com.
World Council is the apex trade association and development organization of the international credit union system. It promotes the sustainable growth of credit unions and financial cooperatives across the globe. As instruments of economic and social development, World Council, its regional confederations, and national member organizations in 84 Panama credit unions belong to COFEP, which represents 112,000 of the 135,000 credit union members of those who live Panama.
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