Asian Solidarity called for SACCOS Rebuilding in Nepal ACCU news Vol: 44 Issue No.: 2 April to June 2015 Quarterly Publication of the Association of Asian Confederation of Credit Unions www.aaccu.coop New FinLit Trainers Vow to Practice what they preach NACUFOK Exposure Intensifies Need for an Integrated CU Network
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Asian Solidarity called for SACCOS Rebuilding in Nepal
ACCUnewsVol: 44
Issue No.: 2April to June 2015
Quarterly Publication of the Association of Asian Confederation of Credit Unions
www.aaccu.coop
New FinLit Trainers Vow to Practice what they preach
NACUFOK Exposure Intensifies Need for an Integrated CU Network
The Association of Asian Confederation of Credit Unions operates as a regional representative
organization of credit unions and similar cooperative financial institutions in the region of Asia. ACCU
is representing 45 million individual members from more than 32,635 credit unions in 22 countries in
Asia. ACCU works in partnership with its member organizations to promote and strengthen credit unions as
vehicles of communit development and socioeconomic development of people.
3 NACUFOK Hosts ACCU Meetings of Board & Audit Supervisory; Asian Solidarity called for SACCOS Rebuilding in Nepal 4 NACUFOK Exposure Intensifies Need for an Integrated CU Network
5 New FinLit Trainers Vow to Practice what they preach 6 CSRR, a Business Solution in Anticipation; Bhutan: Five Credit Cooperatives Seen Registered by 2015
7 GWLN Volunteers Join the Mission in Paglaum MPC; Sister Societies Making its way in Asia 8 NEFSCUN Gets Mandate from SACCOS at the Summit; Human Capital Development a Top Priority for NEFSCUN & NCBL 9 ACCU welcomes Credit Union Leaders
10 SACUDIL Project Review; SACUDIL Promotes Role of SCU Association
11 Myanmar Highlights
12 Microlead Reaching Rural Area with Mobile Money;
CONTENTS
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NACUFOK Hosts ACCU Meetings of Board & Audit Supervisory
The National Credit Union Federation of Korea hosted the 82nd
meeting of the Board of Directors and the Audit Supervisory
Committee meetings on March 11, in conjunction with 28th
NACUFOK Exposure Program in Jeju Island, South Korea.
The Audit Supervisory Committee consists of the President and
Treasurer met prior to the Board meeting. The committee is
responsible for overseeing the financial operations of ACCU.
From Left: Mr. Hung Chi Wen -Treasurer; Dr. Moon Chul -Sung - 1st Vice President; Dr. Chalermpol Dulsamphant - President; Mr. Romanus Woga - 2nd Vice President and Ms. Elenita V. San Roque - Chief Executive Officer after their meetings in Korea.
Asian Solidarity called for SACCOS Rebuilding in Nepal
The 7.8-magnitude quake that hit Nepal on Saturday destroys
buildings in Kathmandu and severely affecting rural areas across the
region. As of April 28, the death toll has risen to 4,310, with almost
8,000 injured, officials say.
ACCU is in contact with its two members – the National Federation
of Savings and Credit Cooperatives (NEFSCUN) and the Nepal
Cooperative Bank (NCBL) to support them on their efforts to rebuild
SACCOS affected by the quake. “Our priority after the earthquake
was the safety of our families. We are starting to collect information
about the impact to the SACCOS and its members,” said NEFSCUN’s
Chair Rishi Raj Ghimire.
“Most of the families in Nepal are living outside home, sky being
the roof. We have calculated that there is heavy damage of life and
physical infrastructure, death toll over 5,000 and injured over 10,000.
Huge number of houses have been damaged due to earthquake,”
shared NEFSCUN’s CEO Bishun Pathak.
A fund raising campaign was circulated to ACCU network to help
NEFSCUN and NCBL in their rebuilding efforts. The funding will be
used to construct credit union offices plus purchase of required
equipment enabling them resume operation soon after clearing
job is completed. If sufficient fund is raised, the support can also be
extended in the building of members houses flattened by the quake.
Photo Credit: Google
Rish Raj Ghimire, the Chairman of the Nepal Federation of Savings
and Credit Cooperative Unions (NEFSCUN) joins the ACCU Board
following the vacancy in April. Mr. Hung, Chi-wen the Treasurer of
ACCU from the Credit Union League of the Republic of China – Taiwan
(CULROC) is no longer a delegate of CULROC to ACCU. Ghimire has
been involved in the Nepal SACCOS movement for more than 25
years. Through his leadership, the integration of SACCOS is taking into
shape. He is a number one supporter of ACCU programs in Nepal and
making sure it is being institutionalized at the federation. He has vast
experience on credit unions locally and internationally. Ghimire was
elected as Alternate Board in the September 2014 General Meeting.
NEFSCUN’s Chair Fills Board Vacancy
Rishi Raj Ghimire
ACCUnews - 3
ACCU
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NACUFOK Exposure Intensifies Need for an Integrated CU Network
What CEOs Say?
“I really loved the exposure because
it touched on all the major moves of
NATCCO. My mind is now racing: how to
regionalize my staffing; how to finance
regional operations” Sylvia Paraguya,
Philippines.
“Thank you for organizing the study visit
in NACUFOK. It provided us excellent
opportunity to expose into developed
CU network in Asia. I myself found this
very encouraging & inspiring. In fact,
with considering the local context and
more towards for integrated network,
I set goals to be achieved base on the
leanings of the workshop”
Navindra Liyanaarachchi, Sri Lanka.”
“NACUFOK is a model in Asia. The CEOs are
inspired and believe that they can influence
change in their network,” added San Roque.
She indicated that ACCU will work together
with members to build tools, skills and
infrastructure for an integrated credit union
network.
ACCU and NACUFOK provided opportunity
for select CEOs of member organizations
to see for themselves and learn the Korean
credit union movement in the study visit
on March 9-13. The visit was in line with
the development theme - Sustainable and
Integrated Credit Union Networks in Asia.
The study was participated by 18 CEOs,
a regulator from Bangladesh and a
representative from DID. The attendees
were very much inspired and impressed
of the achievements of the Korean CU
network. NACUFOK have reached 5.8 million
members and movement assets of USD 60
billion.
Among member organizations, NACUFOK
is the only integrated network in Asia. The
federation has among others a shared
technology platform, supervision, mutual
aid, standardize operation, fit and proper
certification for positions of trust, corporate
marketing, and liquidity pooling.
“Despite sophistication in operations and
financial product delivery, the Korea Credit
Unions are still deeply rooted in their
communities.
It endeavors to preserve its values and
practices of self-help, self-reliance and
cooperation among cooperatives,” said
NACUFOK Chairman and President Dr.
Moon, Chul Sang. We have faced many
challenges in the past, but we have
surpassed them because of our commitment
to work together for the good of all, added
Dr. Moon.
On behalf of the Asian credit union
movement, ACCU President Dr. Chalermpol
Dulsamphant conveyed appreciation
to NACUFOK for sharing with its Asian
counterparts the best practices of the
Korean credit unions. NACUFOK has
organized 28 study visits attended by at
least 300 credit union leaders, professionals
and regulators. NACUFOK covers the inland
costs of the participants. “It is a small way
of demonstrateing of commitment to the
development of our counterparts in Asia,”
said NACUFOK Chair & CEO Dr. Moon.
“In the last two years, ACCU members
have recognized the need for higher level
integration of the credit union network that
will allow competitive financial services
offerings that improve lives of people,”
4 - ACCUnews
New FinLit Trainers Vow to Practice what they preach
ACCU
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ACCU was pleased to welcome the 22
participants from 6 countries namely
Bhutan, Lao PDR, Malaysia, Nepal,
Philippines, Sri Lanka and Thailand to the
Trainers Training on 360 Degrees Financial
Literacy for Credit Union Members workshop
on March 1 to 6, 2015 held at ACCU training
hall in Bangkok, Thailand.
To be effective trainer, the participants
agreed that they need first to be
financially literate – walk the talk.
“Financial Literacy is about an
individual’s ability to make informed
judgments and effective decisions
about the use and management of
their money to give them
better outcomes in life,”
explained ACCU CEO
Elenita San Roque at the
opening program. She said
that credit unions have the
responsibility to help
members become financially literate.
Financial literacy is not a subject taught
in schools and many members are facing
unsurmountable financial troubles due
to their inability to make sound personal
financial decisions. Participants realized the
need to realign the education program of
credit unions to inculcate personal financial
education.
It is necessary to instill the values of thrift
and prudence that will sustain members in
the long-term. The credit union role is to
help members build on the skills on finance
and teach them new ways of coping with
life’s ups and downs so that they can be
ready for whatever life throws their way.
In the absence of financial education,
members are not able to discern the
right financial choices (needs vs wants),
discuss money and financial issues without
discomfort, plan for the future, and respond
competently to life events that affect every
day financial decisions.
The training recognized that credit unions
offer loans to members for emergencies
instead of advising them prepare for
emergencies ahead of time.
In as much as financial literacy is essential,
credit unions at the same time must practice
responsible lending according to ACCU
Chief Technical Officer Ranjith Hettiarachchi.
The loans receive by members should build
wealth rather than creating financial burden
for members.
The training emphasized that credit unions
need to play role on financial advising, now
tied into life planning.
Credit unions must provide guidance to
members to build wealth – it is a peace of
mind experienced by a member when all
aspects of lives are aligned with their values
and inner core.
“Thanks a lot for the learnings, the
experience and the inspiration! This training
refueled me as I go back to the tons of
work I left at NATCCO. I will share this with
the MICOOP team and to all the coops that
we assist. May ACCU continue to conduct
trainings like this,” Veon Sierra of NATCCO.
The Trainers Manual on 360 Degrees
Financial Literacy for Credit Union Members,
designated as Credit Union Business
Solution No. 16 recognizes that a financially
literate membership of credit union is vital
to its success and fulfillment of its original
mission – helping people help themselves.
“Don’t save what is left after spending;
Spend what is left after saving.”
- Warren Buffett
ACCUnews - 5
ACCU
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Bhutan: Five Credit Cooperatives Seen Registered by 2015
The trainers training on Credit Union Organization and Management held February 24 to 27 in Thimpu concluded with an action plan to organize
five credit cooperatives in Thimphu, Punakha, Samtse, Zhemgang and Trashigang. The training was organized by the Department of Agricultural
Marketing and Cooperatives (DAMC) with technical support of ACCU. There were 29 participants including 10 extension/dzongkhag (district)
officials from Thimphu, Punakha, Zhemgang, Trashigang, and Samtse and one official from the Rural Development Training Centre, Zhemgang.
Rural finance services play an important role in uplifting the socioeconomic condition of the rural poor community by helping in income
generating activities. Farmers groups are operating in the villages for joint purchases and marketing. Some of them also mobilize savings and
shares. In order to address the above rural credit issue, the Department of Agricultural Marketing and Cooperatives (DAMC) is promoting credit
cooperatives in Bhutan with the support ACCU. The ten supporters of ACCU from Australia pooled funds to support a two year project for Bhutan.
Bhutan registered its first credit cooperative in 2013 with the help of ACCU but owing to limited knowledge on the subject and the development
steps and procedure, the registered credit cooperative could not be mobilized till now.
CSRR, a Business Solution in Anticipation “Social Performance Management is a tool to measure the cooperative’s
Social responsibility in relation to the compliance with cooperative
principles and values,” said Lise Veilleux. CSRR helps an organisation set
and achieve its social goals by tracking social performance and using
this information for decision-making that puts learning into practice,
added Veilleux.
Veilleux designed a template for CSRR and tested with St. Peter Credit
Union, a member of the Credit Union League of Thailand. ACCU
is anticipating that the CSRR template, including questionnaire,
methodology and user instructions is the next business solution that
will be unveiled in 2015. The attendees of the Pre-Forum Workshop on
Human Resource Development will be the first to comment on the tool
this September 7-9, 2015 in Bangkok, Thailand.
Développement international Desjardins’ (DID) Management
and Governance Senior Advisor Lise Veilleux was in mission with
ACCU on February 9 to 20 to test and adapt the questionnaire for
Cooperative Social Responsibility Reporting (CSRR) of an Asian
community based Credit Union.
6 - ACCUnews
ACCU
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GWLN Volunteers Join the Mission in Paglaum MPC
With the GWLN (Global Women Leadership Network) Empowerment
Grant winner 2014, ACCU CEO Elenita San Roque, two volunteers
from GWLN joined the mission in Paglaum MPC (PMPC), Philippines
on March 23 to 31. Shana Richardson, CEO of Ser Tech-USA and
Brianne Hurford, Communications and Development Manager of the
World Council supported the PMPC team in organizing Sister Society
and provided advice on loan underwriting.
ACCU works with PMPC to establish a business development center
that will help advance women members’ entrepreneurial and
leadership skills, as well as access to markets and information for
micro and small enterprise developments. The project is an action
research to be shared by ACCU with other credit union networks.
The CEO, E. San Roque won a grant funding for the project she
presented to the Global Women Leadership Network in its meeting in
July 2014 at Gold Coast, Australia. The funding is supported by GWLN
membership dues and the generous support of CUNA Mutual Group,
The Members Group and the Susan Adams Scholarship Fund, which
was established by Arizona State Credit Union and PSCU in honor
of former Entrust Financial Credit Union CEO Susan Adams. WOCCU
serves as the hub of GWLN.
Sister Societies Making its way in Asia
Three sister societies (SS) organized two months in a row in Asia
– Philippines, Nepal and Thailand. The first SS in Asia was organized
in the Philippines on March 29 at Paglaum MPC with 42 women,
supported by 10 brothers. ACCU CEO Elenita San Roque and Chief
Technical Officer Ranjith Hettiarachchi assisted at the first meeting
of SS at Mahila Abhiyan SACCOS in Nepal on April 19 with 30 women
members.
“Its great opportunity to be a part of Global Women Leadership
Network for our cooperative and feeling proud for being member of
First sister society in Nepal and second in Asia. Hopefully waiting to
do lots of work to empower, motivate,inspire women,” said Srijana
Sharma Tiwari, Chairperson of Mahila Abhiyan SACCOS.
Sarita Bhattarai serves as the Leader of the Nepal Sister Society, while
Maria Theresa Salabas and Juliet Rawlinson are the team leaders in
the Philippines. On April 23, ACCU CEO assisted SS Leader Kruewan
Chonlanai of the Credit Union League of Thailand in organizing the SS
composed of 50 women from credit unions accross Thailand.
Notably, all the leaders of the Sister Societies are Asian Development
Educators. Sister Societies aim to further the vision of World Council
of Credit Unions’ Global Women’s Leadership Network (GWLN), which
is to advance credit union women in leadership and support outreach
to women in World Council’s development programs worldwide.
Sister Societies are local chapters of the GWLN that are established
around the world to further the Network’s global mission by making a
local impact. The purpose is to convene credit union women, discuss
credit union issues, exchange ideas, network with neighboring credit
union leaders, and share lessons learned with Network members
worldwide. The three main areas of focus: personal development,
professional development, and credit union development.
Mark Your Calendar! Registration to the
2015 Asian Credit Union Forum Now Opens! Early Bird Deadline is on May 31, 2015
Pre - Forum Workshop: September 7 - 9, 2015
Asian Credit Union Open Forum: September 10 - 12, 2015