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World Council Of Credit Unions

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Chapter Summary

The primary objective of World Council of Credit Unions (WOCCU) is to achieve &t;Quality Credit Unions for Everyone&t;, which it aims to achieve by promoting credit unions as financial instruments for the economic and social development of people. The first cooperatives, from which credit unions emerged, were established in the 1840s to combat the social and economic problems arising from the Industrial Revolution. WOCCU has 35 members that are divided into three categories namely direct, association, or international. The board of directors comprises nine to 15 members, who are elected to run WOCCU by its membership. WOCCU is funded by member dues, government agency grants, and annual gifts from WOCCU supporters. WOCCU's activities have concentrated upon the promotion of credit union values, and the creation of economically sustainable credit unions.

Keywords: financial instruments; government agency grants; World Council of Credit Unions (WOCCU) membership

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