BRUSSELS (12/15/14)--Members of the European Parliament (MEPs) who support credit unions have a new caucus, the European Parliament Credit Union Interest Group. It launched in Brussels last week with the support of the European Network of Credit Unions and the World Council of Credit Unions.

The European Parliament is the only European Union (EU) institution whose representatives are directly elected by Europeans and is made up of 751 members from the 28 member states of the EU.

Members of the European Parliament (MEP) launched a new working group for credit unions in the European Union. MEP Kosma Zlotowski, National Association of Co-operative Savings and Credit Unions (NACSCU), Poland, left; Matthew Bland, Association of British Credit Unions; Pawel Grzesik, NACSCU; Breege-Anne Murphy, Irish League of Credit Unions (ILCU); Ed Farrell, ILCU; MEP Marian Harkin, Republic of Ireland; Brian McCrory, ILCU and World Council of Credit Unions; Michael Edwards, World Council; Georgina Friedrichs, Dutch Association of Co-operating Credit Unions; and Jerzy Szmit, Sejm of Poland. (World Council of Credit Unions Photo)

Fifteen MEPs from Austria, Finland, the Republic of Ireland, Luxembourg, Poland and the United Kingdom form the initial membership of the interest group.

"We are honored that so many prominent MEPs have come together to support credit unions and the important financial inclusion role they play in Europe," said Brian Branch, World Council president/CEO. "It is these MEPs who have consistently supported credit unions and helped to maintain a regulatory environment in the EU that achieves safe and sound credit union regulation without imposing excessive compliance burdens that would make it difficult for credit unions to serve Europeans of modest means."

The group's leadership of the includes European Parliament Vice President Ryszard Czarnecki, Poland, and MEP Marian Harkin, Republic of Ireland, as the interest group's co-chairs, and MEP Richard Howitt, United Kingdom, as the group's vice-chair.

The launch coincided with the European Network of Credit Unions' biannual meetings in Brussels, and was attended by representatives of the Association of British Credit Unions Ltd.; the Irish League of Credit Unions; the National Association of Co-operative Savings and Credit Unions, Poland; the Dutch Association of Co-operating Credit Unions; and the World Council of Credit Unions.