CU News From Around the Planet
MADISON, Wis.—A new analysis released by the World Council of Credit Unions suggests the way in which international standard setting bodies react to the institutional stress placed on credit unions upon the withdrawal of COVID-19 relief measures will set the tone for the regulatory issues affecting cooperative finance worldwide in 2021.
LONDON–Britain’s banks are being cautioned by the Bank of England that they should take whatever steps are necessary to prepare their systems for negative interest rates. The bank wants to be able to use the additional policy tool to encourage more lending.
LONDON–The British government plans to introduce rules for the “buy-now pay-later” (BNPL) credit market after the unregulated market spiked as consumers struggled during coronavirus pandemic lockdowns.
MADISON, Wis.—The World Council of Credit Unions (WOCCU) and its Credit for Agriculture Producers (CAP) Project reported they have agreed to provide technical assistance and international best practice expertise to Ukraine’s Individual Deposit Guarantee Fund (DGF) in a joint effort to establish a deposit guarantee system for the country’s credit unions.
LONDON—A European Central Bank governing council member said Bitcoin investors should be prepared to lose their entire investment, the latest such warning from a central banker about cryptocurrency volatility.
MADISON, Wis.—The World Council of Credit Unions’ Young Credit Union Professionals (WYCUP) program is launching the “10,000 Strong!” campaign as part of an effort to highlight its efforts to create the largest global network of young credit union professionals.
BRISBANE, Australia–The largest credit union in this country, Credit Union Australia, better known as CUA, is planning to rebrand as Great Southern Bank.
MADISON, Wis.–The World Council of Credit Unions has released two videos offering updates on the success of a program to build affordable housing for low- and middle-income residents of Haiti.
MADISON, Wis.—The Worldwide Foundation for Credit Unions has launched its annual awareness and fundraising campaign called “Bridge the Gap.”
DUBLIN, Ireland–Seven of Ireland’s largest credit unions and three non-bank lenders have signed up to participate in the government’s €2 billion COVID-19 Credit Guarantee Scheme.
