BOSTON–The World Council of Credit Unions’ new chairman said that when working together the combined power of CUs is a very effective door opener.
Michael Lawrence, CEO of Australia’s Customer-Owned Banking Association, said after accepting the chain worn by the WOCCU chairman that credit unions remain united by some common themes.
‘Common Thread’
“There is certainly a common thread that links us all. It doesn't matter what part of the globe you're from, but it's rather about our values. It's the purpose that we have to help people and the communities in which we operate,” Lawrence said. “It's the need for collaboration. And it's also the power of our collective endeavors. As I connect with people more and more globally, and have conversations, the one thing I realize is that we all face very similar challenges, but equally we also face opportunities. And we need to front into these in a collective manner.
“One of the challenges that cuts across all of us is that of the regulatory burden we face. And it's not just the regulatory burden and the compliance we have to deal with, it's the disproportionate impact that has on small organizations like ours,” he continued. “Too much regulation is directed at the big international banks and then we are the unintended consequences of having to deliver on those same regulation and compliance issues with far smaller teams and far less capability and capacity.”
Opening Doors
Lawrence said the real strength of the World Council is its ability to advocate at the highest levels, including the Basel Committee.
“Representing Australia alone I make it in the front door, but I will not be talking to the most senior regulator,” Lawrence said. “When the World Council knocks on the door representing over 80,000 credit unions and more than 400-million individuals globally from nearly 100 countries, that opens doors to all of the international standard-setting bodies.”
Support for Other Programs
While that kind of advocacy will be a priority, Lawrence said he and WOCCU will not be ignoring other aspects of the business, such as the project work done through entities such as USAID and the Gates Foundation, and the work done by the Worldwide Credit Union Foundation and the Global Bridges program.
The WOCCU Board
Lawrence succeeds Diana Dysktra of the California and Nevada leagues, who is retiring, as chair.
Delegates to Monday's WOCCU Annual General Meeting (AGM) also reelected current WOCCU Board Directors Manfred Dasenbrock (Brazil), Helene McManus (Ireland), George Ombado (Africa) and Joseph Remy (Caribbean).
WOCCU said the board appointed Jim Morell, CEO of Peninsula Community FCU and an America’s Credit Unions’ board member, to serve out the remainder of Dykstra’s term, and reappointed current Directors Dallas Bergl (USA), Joe Thomas (USA) and Jeff Guthrie (Canada).
The Officers
WOCCU’s board committee officers for 2024-25 are:
- Michael Lawrence (Australia), Chair.
- Joe Thomas (USA), Vice Chair/Secretary.
- Dallas Bergl (USA), Treasurer/Chair of Audit and Risk Committee.
- Linda Bowyer (Canada), Chair of Governance and Elections Committee.
- Rafal Matusiak (Poland), Chair of Refugees, Relief and Rebuilding Committee.