VANCOUVER, B.C.–British Columbia’s financial services authority is warning residents to they are only doing business with authorized banks and credit unions.
THE globe
CU News From Around the Planet
WASHINGTON–The Worldwide Foundation for Credit Unions is reporting that during December it disbursed three new grants worth a total of $355,000 from its Ukrainian Credit Union Displacement Fund to help credit unions in Ukraine cover the cost of operating expenses, purchase alternative sources of power and recover the unpaid interest on loans as part of its continuing effort to provide relief amid Russia’s ongoing full-scale invasion of Ukraine.
DUBLIN, Ireland–A popular credit union-sponsored program in this country for school kids has returned.
TOKYO—A new open banking service has launched in Japan.
MADISON, Wis.— The World Council of Credit Unions’ (WOCCU) has released its 2023 Global Regulatory Update in which it makes the case that the ability of credit unions to weather financial shocks draws consumers to them during times of crises, something WOCCU said “regulators must recognize and allow for to help the world recover from the current climate of economic uncertainty.”
LONDON—Credit card borrowing in the United Kingdom rose significantly in November to its highest monthly level since 2004, amid mounting pressure on households from the cost of living crisis.
GLASGOW, Scotland–One credit union here said it is prepared to help members deal with “Blue Monday.”
NAIROBI, Kenya–A fintech that has been digitizing credit unions in this country, known as saccos, and which was highlighted during a presentation at 2022’s World Credit Union Conference in Scotland, has raised $3 million in new capital.
MADISON, Wis.—Nominations have now opened for World Council of Credit Unions’ 2023 Distinguished Service Award (DSA).
MEXICO CITY—Remittances to Mexico from abroad dropped in November to $4.8 billion after a series of record months, data from the Mexican Central Bank show, amid fears of a global economic slowdown.