|At the international workshop on challenges facing credit unions worldwide are, from left: Credit Union Central of Canada President/CEO David Phillips, Credit Union National Association President/CEO Bill Cheney, Australia's Customer Owned Banking Association CEO Louise Petschler and World Council of Credit Unions President/CEO Brian Branch.|
Credit union trade association leaders from the U.S., Canada and Australia met in Sydney last week for a symposium on collaborative solutions to shared industry challenges.
Conference topics included regulatory issues, advocacy, credit union branding, and consumer demands for modern payment systems. Discussions about regulatory constraints focused on Basel III, anti-money laundering statutes, the Foreign Account Tax Compliance Act, member business lending, and strategies about fostering member identification with the credit union brand.
The World Council of Credit Unions--led by President/CEO Brian Branch and Vice President Victor Miguel Corro--coordinated the exchange.
|U.S., Canadian and Australian credit union trade association leaders discuss key issues affecting member credit unions and how to respond to them. (Photos provided by the World Council of Credit Unions)|
"The challenges are similar, the answers are sometimes different and participants gain new insights from this engagement to apply to their own credit unions and national systems," said Branch. "They also provide World Council with valuable lessons that we can share with the rest of the credit union world who face common regulatory, branding and payments challenges."
The American delegation, led by Credit Union National Association President/CEO Bill Cheney, stressed that Americans tend to choose credit unions when regulatory barriers to membership are minimized, and when they understand the difference between credit unions and banks.
The Canadian delegation was led by David Phillips, president/CEO of Credit Union Central of Canada, and the host delegation was led by Louise Petschler, CEO of Australia's Customer Owned Banking Association.
Joining the leaders were a number of trade association and credit union executives.
From the U.S., Cheney was joined by:
From Canada, Phillips was joined by:
Joining Petschler in hosting duties, was COBA head of public affairs, Mark Degotardi.
While in Australia, conference attendees visited a mutual bank and credit union--Bank MECU and Victoria Teachers Mutual Bank in Melbourne. The mutual banking sector in Australia includes credit unions, mutual building societies, mutual banks, cooperative banks and friendly societies, and many Australian credit unions have decided to become mutual banks because of regulatory pressures.