WOCCU Full Form: History, Overview, Functions etc.

With its headquarters in Madison, Wisconsin, the World Council of Credit Unions is the WOCCU Full Form which is a global trade association and development organisation for credit unions. Through lobbying, development, and teaching, WOCCU seeks to improve lives through credit unions and other financial cooperatives. Over 86,450 credit unions in 118 countries, with more than 375 million members globally, are represented by the member associations of WOCCU.

History

WOCCU was formally established on January 1, 1971, after being incorporated on November 10, 1970. In order to establish Islamic investment and finance cooperatives in Afghanistan, WOCCU collaborated with the Microfinance Investment Support Facility for Afghanistan (MISFA) and the United States Agency for International Development (USAID). The Gates Foundation awarded WOCCU a $6.7 million grant in 2006 to support the growth of credit unions in Latin America and Africa.

Today, World Council represents the global credit union community as the premier voice for advocacy and growth on a global scale. Through projects focused on community development, collaboration, and education, the World Council is still working to advance financial cooperatives and economic freedom globally.

A board of directors that represents the member organisations that make up the World Council is in charge. The organization’s headquarters, as well as those of its subsidiaries, are in the American city of Madison, Wisconsin. In addition, the World Council has programme offices all throughout the world and a permanent office in Washington, D.C.

WOCCU Overview

WOCCU Full FormWorld Council of Credit Unions
HeadquartersMadison, Wisconsin, USA
Formation1971
Managing DirectorElissa McCarter LaBorde
MethodSocial science research
Websitewww.woccu.org
Official languagesEnglish

Functions

  • To improve people’s lives through financial cooperatives like credit unions.
  • To increase financial inclusion on a global scale through the credit union movement.
  • All people ought to have access to financial services that are reasonable, trustworthy, and sustainable.
  • The World Council promotes and advances credit unions and cooperative finance globally via advocacy, development, and education.

Frequently Asked Questions (FAQs)

What is the WOCCU Full Form?

The WOCCU Full Form is the World Council of Credit Unions.

When WOCCU is established?

It is established in 1971.

What is the main purpose of WOCCU?

The main purpose of WOCCU is to improve people’s lives through financial cooperatives like credit unions.

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