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Asian Credit Union Journal
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Contents,1 Friedrich Wilhelm Raiffeisen Brief Biography 3. 2 Why Cooperatives fail as cooperative financial 5. institutiion , 3 2012 The United Nations Year of Co operatives 11. Reflecting on what has been done and what needs, to be done the importance of financial co operatives. 4 Enabling Regulatory Environment for 18, Credit Unions in Developing Countries in Asia. 5 The Application of Incentive and Stabilization Funds 26. In promoting credit unions in the rural area of China . 6 The Prudential and Corporate Responsibilities of 29. Credit Union Directors in Australia,7 Women and Empowerment in Credit Union 34.
The CARD MRI Experience, 2, 1 Friedrich Wilhelm, Raiffeisen. Friedrich Wilhelm Raiffeisen was neither a Like many other towns in Central Europe. hero nor a revolutionary but virtually every Weiherbusch lived in poverty Farmers and. village or town in Austria has a Raiffeisen craftsmen lacked means to live and Raiffeisen. Square or Raiffeisen Street A bridge across understood their problems . the Rhein is named in his honor and there, is a Raiffeisen museum in Weiherbusch His He was aware of the various Utopian theories. name is associated with the organization he prevalent at the time but saw them as little. created to help others more than wind and smoke Raiffeisen s. relatives and friends were among the victims of, In the second half of the 19th century amidst the poverty and suffering and he sought ways. reforms and the collapse of the old regime to help them . competition increased dramatically and, farmers were in severe need of the means to In 1847 Raiffeisen used his modest means. develop No support was available from the and donations from the wealthy to create loan. government or private lenders whose interest societies to help his impoverished compatriots . rates were extremely high due to the risks It soon became obvious however that an. and operational expenses related to small organization intended to support its members. scale loans culd not succeed on the basis of charitable. contributions alone ,Friedrich Raiffeisen knew poverty first.
hand He was born on March 30 1818 in Raiffeisen felt the organization should instead. the German province of Westfalia in the be based on the principle of mutual aid. small town of Hamm into the family of a among its members and this idea became. local farmer the seventh of nine children the foundation of agricultural cooperatives . The boy s godfather a priest helped him those in need must not rely on private. receive primary schooling in preparation for a donations or government support but must. military career Early in 1842 however he fell help themselves and others by creating unions. seriously ill and his eyesight was impaired and cooperatives which would also give them. the opportunity to sell their products on more, He abandoned his military career and took favorable terms and compete in the market . a job in the Koblenz city government For Raiffeisen founded the first credit union in. his achievements Friedrich Raiffeisen was 1846 providing banking services to members . appointed mayor of Weiherbusch and in helping people consolidate their savings and. 1845 married Emily Stork the daughter of a granting loans to members on reasonable. Remagen pharmacist terms , 3, In 1872 in an attempt to reduce financial risks. and improve the exchange of information ,Raiffeisen united the local unions as a regional. cooperative credit union A central office was,opened in 1877 . Two crossed horse heads became Raiffensen s,emblem people attached this symbol to the.
attics of their houses and believed it protected,them from misfortune When Raiffeisen died in. 1888 there were 425 cooperative societies in,Germany and about 120 in Austria founded by. his efforts ,The system continued to develop and in the. 20th century Raiffeisen Group was founded , Raiffensen. led by Raiffeisen Zentralbank Oesterreich , s Emblem.
The group opened its first subsidiary banks in,Central and Eastern Europe in the 1980s and. is now a leading financial group in the region ,Raiffeisenbank has been working in Russia since. 1996 ,Friedrich Raiffeisen would surely be amazed,by the current scale of his noble undertakings . Raiffeisen was acutely aware of people s,suffering and he himself experienced many. S formula ,personal tragedies including the death of two.
children and his beloved wife in 1863 At the Self Help . age of 47 he lost most of his eyesight but, continued managing his organizations with the Self Governance . help of his daughter Amalia who became his,personal secretary Self Responsibility. Friedrich Wilhelm Raiffeisen died on March, 11 1888 and was buried at the cemetery of F W Raiffeisen. Heddesdorf , 4, 2 Why Cooperatives fail as, cooperative financial institution . It is important to understand,why Credit Unions fail as.
co operatives financial, By Dr Ranjith Hettiarachchi Chief Execitive Officer. Asociation of Asian Confederation of Credit Unions. The ingredients of failure exist, in all co operatives and what. matters is how co operatives, It is critical that this. fundamental characteristic of, co operatives is understood. organization why they recognize this on an ongoing and accepted . cease being co operatives In basis , addressing this it is necessary What then does this exactly.
to differentiate between To identify the ingredients of mean It means that each and. economic and co operative failure it is necessary to be every member actively uses. failure This article is prepared clear about what is the nature and participates in the co . in the occasion of year of a co operative Obviously operative This has two inter . cooperative 2012 to have to understand co operative related dimensions economic. meaning full celebration failure it is necessary to and political . understand what is being, Economic failure is when a co failed what constitutes the On the economic dimension . operative fails as an ongoing nature of a co operative members must purchase and. and viable business it is use the products and services. unable to compete generate The starting point for co of the co operative The nature. profits and survive as a operative failure lies in the of this purchasing and use will. business formation decision and the depend on the nature of the co . formation process The operative e g selling products. Co operative failure is when a formation decision is when a to the co operative purchasing. co operative ceases to practice decision is being made about from a co operative shop . co operative values and whether or not to form a purchasing energy through a. principles irrespective of its co operative The formation co operative s buying group . economic viability The business process is the process participating in the production. may continue to operate undertaken to form a co and or distribution of a. and generate profits but its operative newspaper ,adherence to co operative. values and principles has Member Owned On the political dimension . become legalistic and token and Controlled members must participate. in the governance of the co , Of course there is no such A co operative is member operative e g nominating for. thing as a perfect co operative owned and controlled the board voting for directors . as there is no such thing as a The members of the attending general meetings . perfect economy co operative are the users reading the co operative s. and the beneficiaries of the newsletter and responding to. co operative surveys , 5, A co operative must begin and These risks are further. continue with an economically aggravated by legal co the governance of the co . and politically active operatives with a significant operative and how this impacts. membership number or majority of users on the co operative remaining. who are not members a co operative ,Inactive members are a threat.
to a co operative because their These co operatives are The greater the proportion of. inactivity demonstrates their legally incorporated as co economic and political activity . lack of commitment to co operatives and the members the greater the ooperativeness. operative values and principles may meet their economic and of the co operative The lesser. and this creates explicit and political activity obligations the proportion of economic. or implicit contradictions and but the majority of the and political activity the lesser. conflicts between active and users are not members In the co cooperativeness of the. inactive members these situations there is a co operative The relevant. legal co operative that is indicative economic and. Many countries co operatives not observing co operative political health indicators of a. credit unions are governed values and principles co operative include as per the. by State legislation that table , requires active membership A significant or majority of. provisions These provisions non member users creates. focus on economically active contradictions and conflicts. membership Members may not only between member,therefore be economically users and non member. active but politically inactive users but also challenges. Co operatives may also have a and choices for management. majority of users who are not about the competing needs. members of members and non , members ,The greater the proportion. of economic and or political These legal co operatives. inactivity the greater the risk are typically established and . to the survival of a co operative or owned and controlled. as a co operative These risks by individuals and or. can be characterized as follows organizations to provide. services but over time the, Economic activity Political users either did or were. activity not encouraged to become, members and the co .
Extreme risk Minimal or operatives have persistently. absent Minimal or absent failed to address the issue . High risk Medium activity High Co operative,or medium Governance. Medium risk High Low or The extent and nature of the. medium economic and political activity, of a co operative s members. Minimal risk High critically determines, 6, Health Indicators Table. Healthy Unhealthy, Indicators Indicators Indicators. User members High to 100 Below 75 ,Non user members Nil 20 plus.
80 plus 20 plus non ,Trade Turnover members members. Board elections Contested Not contested,Board attendance 100 Below 90 . Member capital High proportion Low proportion, Consultation meetings High attendance Low attendance A system of governance. Postal ballots Over 85 Below 85 must reflect and reinforce. Member survey co operation A co operative,response Over 85 Below 85 cannot assume its self . Board voting High Low evident value to existing and. Director duration Short term Long term new members and therefore . AGM attendance Quorum plus No quorum the automatic loyalty of. AGM debate Encouraged Discouraged members ,Web site Yes and updated No or static.
Manager gender Proportionate Disproportionate Co operatives must. Director gender Proportionate Disproportionate continuously earn the loyalty. Staff co op Regular Ongoing Irregular or absent of their members and the. Director coop Regular Ongoing Irregular or absent nature and evolution of the. Members Regular Ongoing Irregular or absent co operative s governance is. Newsletter Yes No or irregular critical to this development . Co operative Difference and Advantage, The key to the formation and A clear philosophy of co A co operative in its formation. the ongoing development and operation must establish the pre . success of any co operative conditions for ongoing. is understanding accepting A governance practice that adaptation and renewal as a. and practicing the co operative reflects and reinforces co operative Co operatives. difference and advantage co operation will invariably change due. to internal and external, This is a recognition that there is A management practice that processes pressures and. a co operative difference that reflects and reinforces dynamics and critical to a. the structure of a co operative co operation capacity of a co operative to. is unique and different from cope with and survive change. private and public business An ongoing co operative as a co operative is the. enterprises In accepting renewal program capacity to maintain its co . the co operative difference operative identity ,it logically follows that this An ongoing member. difference creates a co operative education program A Governance practice that. advantage The Co operative reflects and reinforces co . Difference and Advantage has An ongoing member operation . five interdependent dimensions participation program. 7, The governance practice of co operatives,must be based on co operative values and. principles What this means is the governance,practice must reflect and reinforce for.
example , Member control, A clear philosophy of, co operation. Active membership, A co operative does not exist in a vacuum and. Co operative education, without an explicit philosophy of co operation. that provides a framework for the business, Co operation between co operatives. activities then there will be implicit and, divergent interpretations of the philosophical.
An ongoing co operative renewal program, meaning and significance of the co operative . As a co operative moves from its formation, Unfortunately co operatives can under . there are challenges to its growth and, estimate the values and principles and mistake. success and new actors become involved in, its continuation as a business weakness The. the co operative s development mixing co , International Co operative Alliance s Statement.
operative and private values and interests , on Co operative Identity must inform co . operative practice ,Issues will increasingly arise about who is. managing the co operative who is making, A management practice that reflects. what decisions and what is the nature of the, and reinforces co operation . co operative s entrepreneurship How then ,do co operatives maintain their co operative.
Co operative boards appoint managers to,identity . manage co operatives on behalf of the members , The board needs to be careful that it does. If co operatives do not build in the, not assume that it s role is to manage the co . ingredients of continuous co operation then , operative and that the managers role is to. they will in time not be readily distinguished, manage the business .
by its own members and others from private,enterprises When there is a point that this. This creates an unhealthy division that will not,distinction is not apparent co operatives are. necessarily be noticeable in the short term but,ripe for de mutualization Once they are. will have long term unintended consequences ,formed co operatives have two development. There should be no separation between co ,options maintaining and strengthening or.
operative and business Instead there is a,weakening co operative values and principles . need to recognize that co operative managers, need to integrate co operative values within their. None of these developments are inevitable, management practice . but it is at the point of formation that a co ,operative can choose to strengthen or weaken. Without this integration there will invariably,co operation Of course this is dependent.
be conflicts between co operative and,on recognizing and understanding what. business success potentially exacerbated by,strengthens or weakens co operative values. long serving managers whose longevity could,and principles . reinforce this separation , 8, An ongoing member education. program ,A co operative is owned by its members and.
ongoing member education is critical to ensuring,member control Member education is the. continuous process by which members see the,connection between their individual interest. and group interest The board is responsible for,determining the direction and scope of member. education and management is responsible for its,implementation Member education should not. be ad hoc It should be planned budgeted for,and followed through and include .
Co operative democracy and its practice Organizational growth and change must be based. on reinforcing the relationship between the needs. History of the co operative of members and the co operative s processes and. activities This is not automatically achieved It, The co operative identity will have to be striven for to remain achievable . There are three key ingredients for ongoing, Members role and involvement member involvement information training and. consultation , The co operative difference, A co operative cannot force its members to be. Co operative management involved What it can do however is create the. conditions for member involvement through, With growth and age and increased complexity involving structures processes and practices . members find it increasingly difficult to judge its Members will become and remain involved if. effectiveness and the activities of managers and they have a sense of accomplishment a sense. directors Co operative education therefore of belonging a feeling of control and the ability. increases in importance to satisfy personal ideas The ongoing challenge. for a co operative therefore is to create and, An ongoing member participation maintain these conditions .
program , Conclusion,The problem for a growing and long established. co operative is the loss of power by members Co operatives then fail as co operatives when. and the need therefore to have they cease practicing co operative values and. principles They may continue as a successful, Ongoing processes that limit the power of business competitive profitable and growing. managers and open to demutualization The ingredients of. failure exist in all co operatives What matters , Continuing provision of available information therefore is whether the members directors and. managers take the opportunity to do something, Maintaining flexible and open dealings or nothing A failure to act will mean that the. between members and managers ingredients of failure will become an increasingly. significant factor in the future development of the. co operative , 9, Co operative failure is not inevitable It is A co operative may decide not to provide.
however the inevitable outcome of the failure ongoing co operative education and training. of a co operative to recognize the importance for its directors members managers and staff . of co operative values and principles and Co operative values and principles therefore . making decisions that are incompatible with are expected to be the product of osmosis . these values and principles A co operative may market its products and. services but its marketing does not identify, A co operative may choose for instance not the co operative as a co operative denying. to recruit as new members its non member that the co operative difference is a marketing. users yet allow the non members to become advantage . an increasing proportion of users This was an, important element in what happened to the The choices are there to be made for all co . Victorian Producers Co operative Co Ltd operatives It is a democratic and voluntary. choice and decision ,A co operative may decide to raise capital. through non member shareholders and ,therefore create a conflict of interest between. the member and non member shareholders,and could contribute towards co operative.
demutualization , 10, 3 2012 The United Nations, Year of Co operatives . Reflecting on what has been done and what needs to be done . the importance of financial co operatives, By Ian MacPherson Emeritus Professor of History Co Director. The National Hub Canadian Social Economy Research Partnerships . University of Victoria British Columbia Canada, There is much to celebrate Nearly 200 years Co operators generally are not very good at. of sustained and continuous growth in type such celebrations Partly I think that is because. size and locations Over one billion members the movement is always preoccupied with doing. More than 300 different kinds of organisations better and therefore fixated on shortcomings . serving nearly every economic purpose from the real or imagined it is always facing pressures. cradle to the grave Vital resources in hundreds to develop new services and it is primarily. of thousands of communities fostering economic concerned with internal communications and. growth the training of untold numbers of people not often with general audiences Moreover co . bringing individuals together in mutual help operatives are for the most part creatures of. and inclusiveness through a distinct form of markets that primarily operate for the benefit. organisation According to the United Nations of others and often do not even provide a level. providing at least one important service to playing field They typically involve people. three billion people about half the people on who are unaccustomed to being in dominant. the globe today Contributing to more peaceful and prominent positions within society their. societies in many ways though this aspect of leaders frequently do not readily recognize the. their contribution is often taken for granted importance and potential of what they are doing . , Everyone in the international co operative Moreover co operatives are not commonly. movement is indebted to Iain Macdonald considered seriously in public debates over. the recently retired Director General of the economic issues or within educational systems . International Co operative Alliance and to They are rarely afforded the kind of attention. Ivano Barberini the former ICA President as their size would suggest they should have within. well as to other ICA Board members many discussions of public policy . national co operative leaders several national, political leaders and officials responsible for co For all these reasons the movement should.
operatives within the UN and the International seize the opportunity offered by the co operative. Labour Organisation for securing this recognition events of 2012 to improve at least partly on this. of the contributions by co operatives past situation by creating opportunities for sustained. present and future to peoples around the world discussion about its accomplishments and its. fundamental nature discussions that could, The Year of Co operatives will be important usefully be held both within and without the. because it will provide an opportunity to movement It should be a time for celebration. celebrate co operative accomplishments and reaffirmation . 11, It should address the issue They face however what. of how different kinds of co can only be considered as. operatives can prudently work a particularly daunting task. more effectively together because of the enormity of what. across barriers created by Asia represents It is the world s. narrow institutional and cultural largest geographic region and it. barriers It should address possesses far more people than. more fully and practically how any other It includes incredible. co operatives can build their varieties of culture language. international linkages in order to and economic circumstance It is. become an even more significant alive with numerous ideological. and alternative player in a and cultural traditions . globalizing world a kinder and,The year will not be a success . gentler more respectful less It is not surprising therefore . however if all that happens, arrogant force in building a that it possesses a very rich and. is the highlighting of past and, better world economically and diverse range of co operative.
present accomplishments , socially enterprise Asian peoples I. as important as that would, believe perceive co operatives. be It should also be a time, Although the pattern has in many different ways There. for profound reflection on, been changing rapidly the are at least as many differences. the co operative experiences, common face of the movement as similarities in the Asian.
in its varied forms and in its, still tends to be tied to the movements and we should. remarkably different contexts, North Atlantic countries and celebrate that and try to. around the world The, though of course they are understand more completely. movement needs to reflect on, still an important part of what those differences mean. what has made success possible , the co operative world the and how they might be.
Equally it needs to think about, celebrations during 2012 should transcended . how its development has been, also prominently highlight. inhibited or restricted either by, and consider the remarkable Moreover many of the largest. external forces or by internal, developments outside the North movements in the world. shortcomings It should reflect, Atlantic as well One of the main are located in Asia another.
on how the values and principles, contributions this special year powerful reason why the Year. upon which co operatives are, could and should make is to of Co operatives should have. based can be further and more, encourage more people within a strong Asian flavour The. broadly applied in the modern, and without the movement to growth over the last sixty. context particularly amid, see and understand the amazing years has been remarkable .
the communication changes, range of co operative enterprise The accomplishments of Asian. and ecological issues that are, that exists around the world and co operative leaders the work. reshaping our world , to reflect upon the thought upon done by people in this room and. which they are based It is an many outside it needs to be. It needs to think more about, amazing opportunity understood and acknowledged . how co operatives develop, The commitment of many,within different economic.
I think that the Asian co members to the strengthening. and cultural circumstances , operative organisations Asian of local organisations and the. It must work on projecting a, movements and Asian co expansion of the co operative. fuller understanding of what it, operators have a particularly idea has built the movement to. is about what co operators of, wonderful opportunity one its present state they should be. other times used to call the big, might even say they have a thanked publically and often .
picture , special duty , 12, There is of course yet another If as social scientists project The Asian experience is. reason the rise of several Asian our global population increases particularly interesting to me. countries so obvious today by fifty per cent to reach nine because of what I understand of. means that what happens here billions of people by 2050 how the history of your movements . over the next few decades we manage our land base our You inherit traditions of family . will profoundly affect how the agricultural production and our community ethics values . world develops it will also energy resources will determine religion and philosophy that. significantly shape the co our fate as a species Which of provide fertile grounds for. operative world just as the the broad ways of managing co operatives Many Asian. issues of industrializing Europe this development would you countries however first learned. and the rise of the United States prefer Control in the hands of about formal co operative. and Canada did from the middle organisations primarily concerned organisations through the. of the nineteenth century to the with creating profits out of distorted eyes of imperialist. later twentieth century To give production for investors and regimes Like much of Africa and. one little example according managers increasing government Latin America you have had to. to a recent article in The control or the growing come to terms with that doubtful. Economist it is estimated that engagement of more community inheritance . India alone will account for three based organisations such as co . out of every ten jobs created operatives Many have had to learn how. around the world for the next to adjust to the also distorted. several years The rapid growth The pressure we feel now understandings that came. of consumerism in many Asian the pressures that are from the Independence era . countries is already a powerful accumulating in an increasingly particularly around the forced. economic social and political more uncertain future are all development of staples and. reality a determining factor in classic circumstances for the the accumulation of financial. the global shifts of our times development of co operatives resources through heavy . The growth of your cities is Whenever faced by similar handed government programmes. astounding also one of the most pressures during the last 200 that were not based on clear. obvious demographic facts in years people in many parts understandings of the distinct. the world today There already is of the world have often been nature of co operatives And. significant engagement with co attracted to co operatives today the Asian movements. operatives as Asian people adapt they can be very effective they are expanding into new areas. to these fundamental shifts in increase control people and of activity that have been made. their societies I think there communities have over their possible by more open markets . should be even more lives they can meet so many improved communications . kinds of needs and they create and vitalized entrepreneurship . In Asia the transformation of new and resilient pools of capital especially at the community. rural life is taking place at an and human power All that has level . unprecedented rate as powerful been needed is that people have. a set of changes as can be found the opportunity to learn about There is a richness of experience. anywhere around the world co operative responses and the in that past and present from. anywhere on the globe The access to the resources to make which Asians and others can. related growing importance of them work not easy but not learn important lessons There is. good food and expanding energy impossible either Thus while it much to be gained by reflecting. needs in a world with essentially is good to be a co operator at on your own roots and from. finite resources raise immense any time or place today it should reflecting on your current. challenges that co operatives be particularly exciting to be an circumstances . can partly meet in Asia as Asian co operator you have the. elsewhere greatest possibility of shaping the, future . 13, At the same time Asian co sudden and disastrous impact And what is it that strikes. operators are facing enormous on co operative organisations an outsider looking at your. challenges While there is and the communities they serve movement The following points. much wealth in Asia and more It can also be true that co are I suspect rather obvious . people are entering the middle operatives can significantly help but I hope they will still help. class than ever before some in reducing some of the problems encourage some thought and if. 900 000 000 Asians about and tensions that arise It is time permits some discussion . 15 of the world s population not easy to distinguish rice and I look upon this session to. it is too large to be just an other grains produced by farmers be frank as a way in which I. Asian problem still live in professing different religions will learn more either here or. poverty In other words across it doesn t matter what kinds of afterward from you In particular . the region there is an unequal people deposit funds in a credit I would like to address four points. distribution of wealth in which union all that matters is that that I hope you can accept as. the spread from poor to rich is it is rewarded equitably and important for you and for the. still widening just as similar equally and that loans are made credit union world generally They. bursts of economic growth in from them in an open fair and are some of the complexities. the past in Asia and elsewhere transparent way of building a movement that. have produced unsustainable includes credit unions at different. and inexcusable income By concentrating on their levels of development the. differentiations organisation s needs by dealing necessarily slow and steady ways. openly and democratically in which credit unions develop . Sooner or later extreme greed with all the membership and the need for a higher profile and. earns its appropriate reward by admitting all who can use the value of more and deeper. in class struggles political its services leaders staff thought about credit unions and. upheaval youth revolts and and members ensure that co operativism. extremisms of various kinds their co operative contributes. It is an old story one that significantly to building mutual One of the arresting features. human beings seem to have respect and solidarity within their of the Asian movement is. great difficulty in learning It is communities Nevertheless the different levels at which. also a situation in which co whatever else between the your national movements are. operatives can thrive and turn challenges and opportunities the functioning I found in one of. economic growth genuinely to New Asia presents to you and Mr Hettiarachchi s presentations. the common good At the same the various tensions that are on line his differentiation into. time you are also facing some thrust upon you there will not be the following categories new . of the most difficult problems many quiet times There will be developing developed and. in the world because of the few easy days consolidating I think he might. resurgence of ancient troubles be referring to what I have called. dividing religious and political Such problems are far too in another paper I presented. communities the increasing complex to be laid entirely at here this week and in other. crises associated with terrorism the relatively small door of papers and books I have written . and the seemingly unending community based co operative as formative stabilizing . disasters brought by climate financial organisations the building rethinking and. change and natural calamities thrift and credit societies and reformulating . the credit unions And yet such, It is not simple to establish problems help define the common I think this dividing the. what are the responsibilities challenges and the needs within development of credit unions is. of co operatives in such which they must function They helpful in understanding some of. circumstances all that is clear cannot be ignored the complex challenges that the. is that such calamities can have Asian movement faces . often do have , 14, Each of the stages represents On the other hand developed Managing this diversity is as.
a different set of challenges a or consolidated credit unions complex a job as one can have. different grouping of needs a are capable of operating as in the credit union world On the. different set of relationships independent organisations one hand the challenge is to do. particularly with members often including considerable what is possible to help address. within AACCU and with independence within such the mammoth problems of. governments Managing organisations as AACCU They poverty reduction in a practical. those changing circumstance are focused often on member and effective way through new. particularly because they are economic benefit They are credit unions the temptation is. constantly evolving must be increasingly driven by wealth to try to do too much On the. very complex creation activities for their other hand with well established. members a worthy goal credit unions the temptation. The differences between may be to do too little to be. credit unions that are new Their connections with satisfied with only achieving. or what I call forming and communities are more formal increasing financial benefits for. those that are developed or less based on individual members When that is all that. consolidated or building associations They become happens only part of the credit. rethinking reformulating protective of their own union promise has been met an. in my way of thinking are institution s interests Their staffs important part but only a part. immense New credit unions are multi faceted increasingly nevertheless . require extensive training for including specialists whose. members elected leaders career goals may be tied In the end balancing the. and staff they need enabling as much or more to their pressures and possibilities. legislation but they must also professions as to their credit inherent in the work at the. have some external support unions two ends of the credit union. because new credit unions have spectrum is a difficult art . limited funds for all that needs They tend to compare and a constant test of prudent. to be done measure themselves against action common sense wise. non cooperative competitors governance and careful. At the same time they must which can affect the institutional administration It is also. be so organized as to have cultures of the organisations dependent on keeping the. steadily increasing levels in fact can easily lead to a good will of all involved and. of independence and must declining commitment to the on the effective management. move as quickly as possible to co operative dimensions of the and governance of local. become fully independent Their organisation that employs them organisations at whatever stage. relationships with members Their leaders are often of a they find themselves The days. must be close They must learn different kind than those to be will frequently be long most. quickly and effectively what is found in newer credit unions of the tasks never completely. required to manage successful less charismatic much more done a few not possible to. credit unions They tend to concerned and they have to complete in a lifetime . have leaders who are capable be with melding their team. of exciting and mobilizing together and enhancing its Secondly I believe the work. people who are in some ways capacity to operate increasingly of forming new credit unions. charismatic They need the complex organisations Their and credit union movements is. support of outside organisations credit unions are much more slower that people might wish . and wise understanding integrated within the market.

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