News Release

Contact: Public Relations Coordinator
(800) 342-9835, ext. 8130

(April 24 - Latham, NY) – Advancing the international partnership among Puerto Rican cooperativas, the New York State Credit Union League and the World Council of Credit Unions (WOCCU) that was first announced August 2005 was on the minds of all who participated in a recent gathering in Puerto Rico.

This fourth meeting of the partnering parties turned into an historic event when Luis López, president of Abraham Rosa Cooperativa, announced that his credit union will become the first associate member of the League from Puerto Rico.

"I look forward to this next step in our partnership with the New York League," said Luis López, Cooperativa Abraham Rosa. "I am confident that the League and our credit union will both benefit from this enhanced relationship."

This new approach to associate membership was the result of the partnership program that brought the League and the credit unions of Puerto Rico together. It is the first partnership to experience League membership as an outcome.

"It is very rewarding seeing Puerto Rico and New York credit union systems cooperating," said Victor Miguel Corro, international partnerships manager, WOCCU. "In the end, it’s the member who we worry about and they are the focus of this partnership.

The meeting also marked another milestone—the expansion of the partnership to include credit unions in the U.S. Virgin Islands.

Thirty-two individuals representing 23 credit unions from Puerto Rico, St. Thomas and St. Croix participated in the meeting. The League, represented by Senior Vice President Michael Lanotte, provided education sessions on current compliance topics, such as ID Theft, Business Continuity Planning and Third Party Vendor Due Diligence.

Marc Inger, chief operating officer of UsNet, presented an introduction to shared branching, while Dirck Van Deusen, senior vice president of Corporate Relations for Members United Corporate FCU, provided an overview of the roles of corporate credit unions.

"We couldn’t be happier with the growth and expansion that has occurred as a result of this unique partnership," said Lanotte. "It becomes more evident as the partnership develops that both partners are learning from one another. The League provides a level of specific credit union operational and technical support, while the credit unions, based on the manner in which they approach serving their members and working with others, provides a blueprint on how the credit union philosophy can be lived on a daily basis."

WOCCU currently has 28 international partnerships between credit union movements in developing countries and Leagues in the U.S. and Canada.

The New York State Credit Union League (NYSCUL) has served as the trade association for the state’s credit unions for 91 years. It is the fifth largest league in the country. New York credit unions have assets of more than $39 billion and 4.2 million members. To learn more about the League, visit www.nyscul.org.

Senior Vice President Michael Lanotte helps representatives from 23 credit unions from Puerto Rico, St. Thomas and St. Croix navigate through the League’s website.

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