As part of our commitment to international development, the Australian Mutuals Foundation (AMF) is proud to support the work of the Asian Confederation of Credit Unions (ACCU). Through this partnership, the AMF is supporting efforts to develop sustainable financial Credit Unions and Cooperatives in developing countries in Asia. The aim is to alleviate poverty, improve education and promote gender equity by providing a sustainable model for affordable financial services and teaching the value of regular saving and the wise use of credit. ACCU currently delivers credit union development programs in Laos and Timor-Leste.
The Lao Association of Savings and Credit Unions (LASCU) is a recipient of aid offered by ACCU, using the support to provide various training opportunities and initiatives to improve the lives of members and local communities. We are pleased to share some of the recent activities of LASCU below:
LASCU held two financial literacy training courses for members at Luang Prabang province with the courses aiming to help their members learn ‘thrift’ habits, as well as learn how to access loan products. These programs were held in October 2024, and are a part of a collaborative effort with the Bank of Laos (BOL) and the German Cooperative and Raiffeisen Confederation (DGRV)
LASCU Vice President Mr Nusuen Phothisan visited the HouamChai Phatthana Savings and Credit Union to present educational seminars focusing on delinquent management, fraud protection, and fraud issues in an effort to help provide advice to improve operational efficiencies.
The International Finance Corporation (IFC), in collaboration with the Bank of Laos, organised a training day focusing on Green Finance for cooperatives to access financial resources and technical assistance to promote environmentally sustainable practices. The training program, attended by LASCU staff, aims to create foundations for financial institutions to transition to green lending, increase green investment, and contribute to Lao PDR’s commitment to the Paris Agreement on climate change.
LASCU Management attended a conference organised by the DRGV to discuss training and promotion curriculums for agricultural cooperatives. LASCU plays a vital role in DRGV’s strategy to promote the agriculture cooperative movement, ensuring the benefit of its members and local communities.
Timor Leste is another project area supported by ACCU and the AMF, identified as a developing country working towards improvements that are intended to encourage the growth of a sustainable financial system using the cooperative credit union model. Like LASCU in Lao, activity in the Timor Leste region is being carried out by the Federaçao Cooperativa de Crédito Hanai Malu (FCCHM) who recently held their third meeting of the year, focusing on strategic decisions to enhance the cooperative’s operations and governance. Key outcomes of this meet include a commitment to making educational opportunities available with training sessions to be facilitated by ACCU. Plans were also made to ensure permanent staffing for 20 pilot credit unions involved in standardisation and digitisation. The Board affirmed its dedication to institutional sustainability, transparency, and member engagement through ongoing education and modernization initiatives. FCCHM will continue to work closely with ACCU to support digital transformation and maintain financial resilience across its member network.
Honouring their commitment to literacy training, FCCHM recently facilitated a comprehensive five-day training program for members and leaders of five primary cooperatives in Aileu Municipality. The training, held at the CU HIKHMOR building in Liurai Village, Aileu Vila Administrative Post, was aimed at enhancing financial management accounting skills and literacy among participants.
The training emphasized the importance of developing financial management competencies to strengthen primary credit cooperatives. Sessions covered various topics, including basic accounting practices, non-performing loans, and family budgeting and expenses. The training underscored FCCHM's commitment to fostering financial literacy and cooperative resilience, equipping members with essential tools to develop and sustain their financial practices effectively.
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