Caja Popular Mexicana Partnership - NCUF 2006 Wegner Award

This international partnership between the California and Nevada Credit Union Leagues, the Texas Credit Union League, the World Council of Credit Unions, and Caja Popular Mexicana saved Mexico's largest credit union and made a lasting impression on US Congressional staff. This is the video shown at the 2006 Herb Wegner Memorial Awards, where Caja Popular Mexicana was honored with the Outstanding Program award by the National Credit Union Foundation. More info on the Foundation: www.ncuf.coop More info on the Partnership The Caja Popular Mexicana (CPM) Partnership Project is a shining example of the credit union movement's cooperative philosophy. It's a cross-border collaboration of the California Credit Union League, the Texas Credit Union League, CPM, and the World Council of Credit Unions (WOCCU). The partnership began in 2001 as CPM -- Mexico's largest credit union -- was struggling with nearly 20% delinquency, annual net losses, and members losing confidence in the safety of their deposits. CPM was a product of Mexico's economic crisis of 1995, which forced 62 credit unions to merge into a 325-branch conglomerate with no common policies. Despite their best efforts, this merger led to administrative gridlock and financial instability. By 2001, CPM was on the brink of failure. WOCCU received funding through the US Agency for International Development (USAID) to implement the CPM Partnership. Partner credit unions in California and Texas opened their doors to CPM ...



http://www.youtube.com/watch?v=kpBvSXaXeKw&hl=en

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