How does global credit union advocacy actually impact me?
That’s the question we hear most often from credit union leaders in the United States when the conversation turns to what’s happening across the global movement. The answer is: more than you might think.
That was the focal point of World Council of Credit Unions (WOCCU) President and CEO Paul Treinen’s message earlier this March when he took the stage at the Governmental Affairs Conference (GAC).
So why talk about what policy makers and standard setting bodies are doing on the other side of the globe? After all, it was America’s Credit Unions’ conference.
The answer lies in the strong partnership between America’s Credit Unions and the World Council of Credit Unions. Inviting Treinen to speak on the main stage during GAC reflects a shared understanding that the global credit union movement plays an important role in shaping the environment in which US credit unions operate.
So, let’s talk about advocacy.
When people hear that word, they usually think about what happens in their statehouse or on Capitol Hill in Washington, D.C. And there is no doubt that work is essential.
But advocacy for the credit union movement happens at three levels.
Treinen describes it as a triangle.
At the state and federal levels, credit unions are represented by America’s Credit Unions and the state leagues’ advocacy teams. Supporting those efforts, WOCCU represents the movement on the global stage.
Because of the World Council’s global membership footprint, WOCCU engages directly with policy makers outside the US and international standard-setting bodies. That access is rarely available to an individual credit union or even a national association.
All three sides of the triangle matter. And when the movement works across all three levels with a unified voice, it becomes stronger.
That matters because many of the rules and regulatory frameworks that affect financial institutions begin at the international level.
Conversations around capital requirements, anti-money laundering, cybersecurity, artificial intelligence, and digital currencies are already happening in global forums. Over time, those ideas make their way into national policy and eventually into the regulations that affect how credit unions operate here at home.
So even as you serve members in your local communities, decisions made in places like Basel, Paris, and Brussels still shape your work.
One of WOCCU’s top priorities in those conversations is proportionality. That is, making sure global rules designed for the largest multinational banks in the world do not unintentionally fall on credit unions without appropriate consideration of their size and risk profile.
Over the past year, WOCCU has been directly engaged with international standard setters as they update guidance around financial inclusion and anti-money laundering. And these efforts have paid off. WOCCU helped to ensure that the new guidance included a risk-based approach to how AML guidelines are implemented around the world and that it is not a one size fits all.
Looking ahead, WOCCU is also closely tracking the issues that will define the next decade of financial services. Artificial intelligence. Digital currencies. Open banking. Operational resilience. Fraud.
These conversations are already taking place on the global stage, and the standards that emerge will influence regulation in the United States and around the world.
WOCCU’s role is to make sure the credit union perspective is part of those conversations from the beginning, not as an afterthought.
Just as important, WOCCU serves as an early warning system for the movement. By participating in global discussions, the organization can identify trends before they become requirements and help credit unions prepare before policies are set in stone.
At the end of the day, WOCCU’s advocacy work is not about policy for policy’s sake. It is about helping credit unions continue to do what they do best—serving members, strengthening communities, and expanding access to financial services for people who need it most.
And that takes advocacy at every level.
Local.
National.
And global.
