WASHHINGTON –United States Senate FCU welcomed esteemed members of the African Confederation of Cooperative Savings & Credit Associations (ACCOSCA) to its headquarters for a “dynamic and insightful strategic roundtable discussion.”
Led by USSFCU President & CEO Timothy Anderson and featuring key executives from both organizations, the gathering facilitated a robust exchange of ideas, experiences, and best practices in the realm of credit unions, the credit union said.
Among the distinguished guests was Mr. George Ombado, executive director of ACCOSCA, the trade association for CUs in Africa, who is renowned for his expertise in international credit union development.
The roundtable served as a platform for discussing critical topics including regulatory practices, global economics, inflation, and their profound implications on credit unions – known as Savings and Credit Cooperative Organizations (SACCOs) in Africa.
The event showcased a spirit of collaboration and mutual learning as representatives from USSFCU and ACCOSCA engaged in dialogue aimed at fostering stronger ties and enhancing the resilience of credit unions worldwide.
"It was a privilege to host such esteemed colleagues from ACCOSCA,” said Anderson. “This gathering underscores our commitment to global cooperation and the shared mission of empowering communities through financial inclusion."
The credit union said discussions delved into the unique challenges and opportunities faced by SACCOs in diverse contexts, with representatives from Kenya and Botswana offering valuable insights into the operational landscape within their respective nations. These exchanges provided a nuanced understanding of the multifaceted dynamics shaping the credit union movement in the United States of America and the continent of Africa.
The relationship with the ACCOSCA first began in 2016 when Anderson traveled with credit union representatives from the United State to attend the 2016 Savings and Credit Cooperative Annual (SACCA) Congress. The SACCA Congress is an event very similar to the Government Affairs Conference (GAC) held in Washington every year.
In 2019, leadership from ACCOSCA traveled to Washington, D.C. and met for the first time with USSFCU leadership in a similar forum.
“The strategic roundtable at USSFCU's headquarters signifies a milestone in the ongoing partnership between USSFCU and ACCOSCA, paving the way for future initiatives aimed at advancing financial inclusion and sustainable development globally,” USSFCU said. “Through such collaborative efforts, credit unions are poised to play an increasingly pivotal role in promoting economic resilience and social empowerment.”