WOCCU Board also approves addition of third credit union organization from Brazil

World Council of Credit Unions (WOCCU) welcomes two new member organizations to start 2024, with the addition of Moldova’s Central National Association of Savings and Credit Associations (CNASCA) as a direct member, and the Cresol Confederation as a second associate member from Brazil.

CNASCA came into being after the merger of two central organizations in 2019, one of which was previously a WOCCU member. The new association represents all of Moldova’s 220 savings and credit associations (credit unions), which serve more than 138,000 members across the European nation.

“Knowing the benefits which cooperation with WOCCU previously provided, our movement renewed our membership in WOCCU. This will open new opportunities for the system through cooperative relations with similar movements from other countries on the WOCCU platform. Also, there will be an opportunity to promote and protect the interests of credit unions in front of the National Bank of Moldova, which serves as the supervisory authority of the SCA system,” said Efim Lupanciuc, CNASCA Executive Director.

As a WOCCU direct member, CNASCA will have a vote at WOCCU's Annual General Meeting and be eligible to nominate representatives to the WOCCU Board of Directors.

The Cresol Confederation represents 60 credit unions and three central credit unions united under a common brand and technology platform. With more than 900,000 members and assets surpassing $4.6 billion, Cresol becomes the third WOCCU member from Brazil.

Cresol is the second Brazilian credit union organization to join WOCCU under its revised associate member category in the last four months. The WOCCU Board of Directors in October 2023 opened associate membership to national cooperative associations in countries where there is already an existing WOCCU Direct Member. In the case of Brazil, Sicredi has been a Direct Member of WOCCU for more than 20 years.

“It is with great joy and satisfaction that the Cresol system comes together with our global credit union movement. This is the celebration of a dream we have had for some time. We look forward to strengthening cooperation and engagement together, as we share perspectives globally, while continuing to act locally,” said Cledir Assisio Magri, Chairman of the Cresol Confederation

“We are excited to see our membership base growing in countries with a strong tradition of serving those often overlooked by larger banks,” said Thomas Belekevich, WOCCU Director of Member Services. “In Moldova, WOCCU will continue advocating for an enabling environment for credit unions, while we deepen our connections across Brazil by sharing inspiring examples from one of the most successful countries in the world for cooperative finance. As our network grows throughout 2024, our global movement gains new perspectives on solutions to our shared global challenges.”

For a full list of WOCCU members, or to learn more about applying for membership, click here.