REXBURG, Idaho—A CEO of a credit union in Idaho has been offering assistance to credit unions in Moldova, the poorest country in Eastern Europe.
The assistance has included a visit to the country by Shane Berger, CEO of Beehive FCU.
Berger told local media that credit unions are still in their infancy in Moldova and are limited in what they can offer, with narrow product offerings. What financial services providers there are in the country are located in its cities, with rural areas and villages not having access to such services.
“That’s why it’s important that … the credit unions have a place there, to provide an alternative,” Berger told the Idaho State Journal.
Credit unions, as they have been popping up in small villages across Moldova, are providing an alternative where the rates are more affordable, Berger said.
“We go to them to help them understand what they can do and what they can become,” the Idaho State Journal quoted Berger as saying.
Berger said that he and fellow credit union representatives are trying to bring a message of hope and help so the Moldovan credit unions can see that they can grow as well.
Berger said he became involved with Moldova’s credit unions through the World Council of Credit Unions when he and other Idaho credit unions visited the Solomon Islands to see if they could help make a difference in the financial state of the country.
WOCCU extended another invitation to Berger in 2013 to become involved in Moldova. One current project is working with the country’s regulator to create some sort of deposit insurance program.