ICMIF member World Council of Credit Unions’ (WOCCU) President and CEO Elissa McCarter LaBorde (pictured) laid out an aggressive new vision to increase the number of members of credit unions from 400 million to one billion people, with at least 50% (500 million) of those members being women, in her State of the Movement Address at this week’s first general session of the 2024 World Credit Union Conference in Boston, USA.
“We are putting out a bold statement for gender equity and equality for our movement of the future, and we want you to walk with us as we strive to make this possible,” said McCarter LaBorde.
The WOCCU Board of Directors last week endorsed the new goal, along with a target of ensuring 50% of credit union leaders are women as well.
The announcement comes after the Global Women’s Leadership Network spent months gathering credit union gender data and insights from the global movement as part of a 15-year anniversary initiative.
McCarter LaBorde also asked credit union representatives from across the globe to celebrate unity as a movement, while also preparing them to embrace more innovation in order to make that new membership goal possible.
“No surprise, we are experiencing an even greater push for innovation at a pace and speed like we have never seen before,” said McCarter LaBorde. “Each of our 100 country contexts present slightly different challenges. But on one thing we agree: the need to reach young people, to counter an aging membership. And on this, we need to do better.”
Credit unions are customer/member owned financial cooperatives, democratically controlled by its members, and operated for the purpose of maximising the economic benefit of its members by providing financial services at competitive and fair rates. Worldwide, 82,758 credit unions in 97 countries serve 404 million people, according to WOCCU’s latest annual Statistical Report.
As the global trade association and development platform for credit unions, WOCCU promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services.
WOCCU advocates on behalf of the global credit union system before international organisations and works with national governments to improve legislation and regulation. Its technical assistance programs, which has implemented 300+ technical assistance programs in 90 countries, introduce new tools and technologies to strengthen credit unions’ financial performance and increase their outreach.
