Tuesday 5th January 2010 - 2:35pm

World Council of Credit Unions (WOCCU) is celebrating on behalf of the global credit union movement the United Nations (U.N.) General Assembly's vote Friday 22nd December proclaiming 2012 the International Year of Cooperatives. The proclamation recognizes the important role cooperatives of all types, including credit unions, play in strengthening and supporting global economic and social development. Recognition by the U.N., in turn, also strengthens the global cooperative movement itself, according to Pete Crear, WOCCU president and CEO.

"WOCCU has always been proud to be at the forefront of global credit union development, but the International Year of Cooperatives raises the stakes on the important role cooperatives play," said Crear, who was a member of the U.N. committee that drafted the recommendation. "By recognizing the value cooperatives have in social development, the U.N. is honoring the work we've already done. However, the declaration also poses a challenge to make cooperatives even more influential and effective in the work we will do in the future."

Graham Tomlin CEO of Credit Union Solutions said.
"2012 is special for us in the UK because of the Olympic Games but this decision by the UN gives yet another reason to celebrate and to ensure that the progress and development of credit unions across the country is recognised. Government, local authorities and healthcare providers should be encouraging their staff to join their local credit union and should be providing payroll deduction facilities. The scars inflicted upon our economy by the irresponsibility of banks will take a decade to fade and the removal of the barriers to successful credit union development must be a priority if credit unions are to be seen as the first choice for personal and small business lending."

Source: Published by Graham Tomlin for Credit Union Solutions Ltd in Central Government