WOCCU Approves SICOOB as New Member Under Revised Membership Structure

SICOOB, one of the largest financial cooperative systems in Latin America, has been approved as the first new member under the revised membership structure of the World Council of Credit Unions (WOCCU). 

With more than $43 billion in assets, SICOOB supports more than 14 central credit unions and 343 individual affiliated credit unions serving over seven million members across Brazil. 

WOCCU has introduced a new Associate Membership category for national cooperative associations in countries where there is an existing WOCCU Direct Member. Associate Membership is also open to regional financial cooperative confederations, first and second-tier credit unions in countries where WOCCU has no existing Direct Member, and other industry partners such as fintechs. 

The revised membership structure will not affect the voting privileges of Direct Members at WOCCU’s Annual General Meeting or their eligibility to nominate representatives to the WOCCU Board of Directors.

Kenya Union of Savings & Credit Cooperatives (KUSCCO) Ltd and African Confederation of Cooperative Savings and Credit Associations are direct members.