SINGAPORE–The World Credit Union Conference, with more 1,400 people representing 58 countries, has held its first full day of meetings here where it also presented its highest honors.
Following the traditional opening ceremony and the parade of international flags, as well as a cultural tribute to the multicultural city-state with dancers in elaborate costumes featuring Singapore’s ethnic groups – Chinese, Malay, Indian and Eurasian – in traditional and modern dance, World Council of Credit Unions’ Chairman Brian McCrory told the meeting, “We must be innovators, social entrepreneurs, and skilled business leaders with the ability to run efficient businesses while deeply rooted in the philosophy of the cooperative spirit and a commitment to service.”
“We are passionately aware that each of us both as individuals and as members of World Council, and as a movement, are about so much more than business,” said McCrory, who hails from Ireland. “We exist to provide our members with a not-for-profit service that empowers and enables them and through this activity, we generate sufficient surplus to reward our members, fund our operations and create additional social dividends for our communities.”
During his remarks McCrory shared his experience through field engagement work in the Busia orphanage in Kenya with World Council, and he encouraged delegates to immerse themselves in the activities and to maximize the opportunities during the World Credit Union Conference.
“As credit union leaders, we collectively commit to the highest standards, to learning, to improving our skillsets, to embracing change, for and on behalf of our members,” said McCrory.
Senior Minister Urges Tech Embrace
Credit unions were also welcomed to Singapore by Heng Chee How, Senior Minister of State for Defense, who stressed to those gathered at the Suntec Convention Center the importance of credit cooperatives. He called on CUs to continue collaboration as a whole “by embracing technological innovation and digital transformation to effectively compete with other financial institutions and fintech firms to meet the demands of a new generation of members.”
Heng, who also serves as Deputy Secretary-General of National Trades Union Congress (NTUC), praised the spirit of the cooperative movement, emphasized the need for innovation in today’s business models and set the scene for the coming days, WOCCU reported.
Honors are Presented
During the opening ceremony, World Council presented its Distinguished Service Award (DSA), the industry's top global honor to worthy individuals and organizations who have shown great contributions to further the credit union movement outside of their own countries. This year’s award was presented to Professor Adam Jedlinski, nominated by the National Association of Cooperative Savings and Credit Unions (NACSCU) of Poland, posthumously and accepted by his daughter.
Earlier in the meeting, participants from the previously separate Global Women’s Leadership Network and World Council Young Credit Union Professional (WYCUP) Forum events kicked off the diversity and inclusion conference track dedicated to advancing women and young leaders worldwide during a networking luncheon featuring keynote speaker, Stacie VanDenBerghe, CEO of CU Innovate.