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Why was the Benchmarking Service created?

  • To enable credit unions to compare their financial performance with that of their peers
  • To promote public awareness and  trust to credit unions by promoting financial transparency, accountability, and increased disclosure standards
  • To encourage credit unions improve their operational performance following the international standards used by the service

Who created the Benchmarking Service?

The Benchmarking Service is created by the Association of Asian Confederation of Credit Unions, the regional networking body for credit unions in Asia under the project of the Credit Union Benchmarking Service in Asia (CUBSEA) supported by the Canadian Co-operative Association (CCA). The service is publicly launched in September 2005.

Do we have to pay for the service?

The service would be for free during the first two years after the launching. However, we may consider charging minimal service fee to cover maintenance cost of the website once the number of users reached to more than 200 credit unions. Currently, the benchmarking service is hosted in our website. If the number of subscribers increases, a separate website is necessary. In that case, all the users will be advised.  

Are you planning to give recognition to those credit unions excelling in score?

ACCU has a Branding program. Credit unions achieving excellent performance are given the Asian certification called ACCESS or A1 Competitive Choice for Excellence in Service and Soundness. Being top in the benchmarking service would not mean an automatic certification. There would be an immense possibility that the credit union may pass the branding criteria. Finance, being one of the major criteria, uses PEARLS as measurement. Based on our experience, the most difficult criteria to achieve are in the area of finance. It only shows that financial standards are the impact of having sufficient and appropriate policies, procedures, systems and programs for prudent management of credit unions.

Is the Benchmarking Service of ACCU only for credit unions in Asia or only for members of ACCU?

No, the service is for all credit unions willing to share their financial information.