SOUTH BURLINGTON, Vt. (10/18/13)--Vermont FCU hosted representatives from AELUCOOP, Peru's second largest credit union, last week (Newslines Express Oct.17).
A delegation from AELUCOOP, Peru's second largest credit union, visits Vermont FCU, Burlington, Vt. The two cooperatives struck up a partnership through the Association of Vermont Credit Unions, its Peruvian counterpart, FENACREP, and the World Council of Credit Unions. (Photo provided by the Association of Vermont Credit Unions)
The exchange, organized by the World Council of Credit Unions, allowed the Peruvian delegation to learn about VFCU's lending, marketing, information systems, operations, human resources, risk management and accounting strategies.
AELUCOOP representatives were given tours of VFCU branches in Burlington, South Burlington, and Milton. They also toured the Association of Vermont Credit Unions' Colchester office, and were given an orientation by AVCU President Joe Bergeron and some of his staffers.
AVCU is a participant in the World Council's International Partnerships program, through which it has an agreement with the Peruvian credit union trade association, FENACREP.
AELUCOOP and Vermont Federal first agreed to a formal working relationship in October 2010, when they signed an agreement through the World Council. In October 2011, VFCU representatives visited AELUCOOP facilities in Lima.
"The relationship between AELUCOOP and Vermont Federal is one of the many examples of the collaborative spirit and efforts that have become commonplace in the credit union movement," Bernie Isabelle, VFCU president/CEO said. "The information disseminated and the friendships developed have helped us all in our ultimate goal of serving our members."
Jean Giard, VFCU senior vice president of finance and chief financial officer, who went on the 2011 trip to Peru, said the program is "is about exchanging ideas, best practices and an opportunity to see the credit union movement applied in different cultures."
VCFU is headquartered in Burlington, Vt. and has $393 million in assets.