RALEIGH, N.C.–A group of 26 savings and credit cooperative (SACCO) employees and volunteers from Kenya are visiting with credit unions in the Raleigh-Durham area this week.
The visit, sponsored by the World Council of Credit Unions, is an immersion program designed to encourage an exchange of best practices and innovative ideas between financial cooperatives around the world, according to the Carolinas CU League. The exchange includes a series of credit union visits during which North Carolina credit union hosts share their experience through facilitated discussion and presentations.
The group's itinerary began with a briefing from the league about the credit union system in the Carolinas and the U.S. The League said it also plans to share more about the political landscape in North Carolina through a visit with lawmakers.
Local Government FCU, Coastal FCU and Latino Community CU are among those CUs that will be hosting the Kenyan delegation through the week. Each credit union will share an overview of its history, member make-up and governance, as well as products, services and overall operations, the league said.
“These exchanges are also an opportunity for the host credit unions to highlight any innovative or particularly successful products and services, community engagement efforts or initiatives that set the credit union apart from other financial institutions in the area,” the league said in a statement.
As of last year, WOCCU data show there were more than 5,700 SACCOs in Kenya with 5.4 million members.