Four Credit Unions Seen Established in China in 2016
- Date : Friday May 20, 2016
- Venue : Bangkok
ACCU partner - China Association of Microfinance (CAM) is working on the establishment of four credit unions that will be registered under the cooperative act by October 2016.
With the support of the Founding President of ACCU Mr. Andrew So and Casa Ricci Social Services Ms. Teresa Tao, the Credit Union Microfinance Innovation and 360 Degrees Financial Literacy for Credit Union Members were translated in Chinese. “These two CU business solutions have paved the interest of CAM to promote credit unions in China,” Andrew said.
After the promoters training in April 2016, ACCU welcomed to Thailand the 7-member delegation from China on May 16-21 headed by CAM’s Secretary General, Mr. Chengyu Bai. On May 20, ACCU and CAM formally signed the Memorandum of Understanding (MOU) that inked organizational commitment to establish the credit union system in China.
In line with the long-term goal to promote credit unions the group studied the operation of the Federation of Savings and Credit Cooperatives of Thailand (FSCT), Credit Union League of Thailand (CULT), Kasetsart University Savings and Credit Cooperatives, and Wongsamphan Credit Union. “The learning from the study visit reinforced the knowledge and trust of the promoters that credit unions could bring socioeconomic development of people and communities,” according to Teresa Tao. “Seeing is believing,” Teresa added.