CULEG Addresses Governance Issues in Credit Unions
- Date : Monday February 15, 2021
- Venue :
On February 15, 2021, ACCU has certified 19 trainers after attending the online Trainers' Training of Credit Union Label of Excellence in Governance (CULEG) on February 1-4, 2021. The trainers are directors, managers, and trainers from national federations and credit unions from Hong Kong, Indonesia, Nepal, and the Philippines.
Assigned as business solution no. 25, CULEG is a rating system on a credit union's acceptable practices of good Governance based on indicators set for the 11 principles of Governance, namely 1) Participation, 2) Transparency, 3) Accountability, 4) Consensus Orientation, 5) Efficiency and Effectiveness, 6) Equity & Inclusiveness, 7) Respect for Rules, Policies & Regulations, 8) Strategic and Visionary Leadership, 9) Knowledge and Skills in Leadership, 10) Organizational Performance, and 11) Network's Accountability. The 105 measurable indicators facilitate an objective governance assessment of a credit union.
CULEG provides information to members and stakeholders about the level of acceptable governance practices of the credit union. It enables credit unions to obtain an independent and credible assessment of their governance quality and extent. The rating process would also determine the relative standing of the credit union vis-àvis the best practices followed in the domestic and international organizations.
Credit unions can also use these ratings as a reference and set benchmarks for further improvements, such as tools for assessing the internal strengths and weaknesses in a strategic planning session. The credit unions can also use the tool as an input to their annual Board retreat. The tool alerts the credit union on the areas to focus on rather than the "cookie-cutter" approach.
ACCU CEO Elenita San Roque pointed out that Good Governance is essential for credit unions to protect the interests of a wide range of membership and the communities within which they operate.
"The call today is about the mission that responds to the challenges and changes of this decade. We must organize our governance principles and structures to keep mission and purpose at the top of everybody's mind – our members, directors, and officers. Credit union organizations, either as the national body, league, or primary cooperative, should act altogether in search of the common good that is self-reliance, helping the have less and disadvantages. These are our missions," shared Andrew So, the Founding President of ACCU, who also attended the training.
The trainers practiced tool in a credit union as a requirement for graduation. "I have recommended to large credit unions to attend the training. Our coop is a Gold ACCESS brand, and yet we still learn a lot from CULEG," said Tagum Coop Chair Rosalina Argent. All the board of directors of Tagum Coop attended the training.
ACCU is organizing another batch from March 29 to April 1, 2021.