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For Immediate Release Contact: Patrick Harris Director of Media Relations Ohio Credit Union League pharris@ohiocul.org 800-486-2917

Ohio League, Credit Unions Host FEDCAR CEO to

Discuss Credit Union Support, Growth

Columbus, Ohio (October 6, 2010) – The Ohio Credit Union League (OCUL) and several Ohio credit unions recently hosted Florin Simion, CEO of the Federation of Romanian Credit Unions (FEDCAR), to discuss a partnership to help stimulate credit union growth in Romania, and further develop the Federation into an all-encompassing credit union support organization.

Simion began his Ohio agenda with a dialogue at OCUL’s office in Columbus, where discussion focused on the types of services the League provides to its members and how it plays a critical role in the development of its credit unions.

“Though we are separated by thousands of miles, our goals and obstacles are very similar,” commented Paul Mercer, President of the Ohio Credit Union League. “Our League definitely has a better understanding of the unique challenges faced by credit unions under a different government structure, and I hope in return we presented ideas and strategies that will strengthen the Credit Union Movement in Romania.”

Simion also visited three Ohio credit unions: CES Credit Union in Mount Vernon, Ohio Healthcare Federal Credit Union in Columbus, and Cincinnati Central Credit Union in Cincinnati, each providing first-hand knowledge of U.S. credit union operations and the issues they face.  To learn more about the corporate credit union structure, Simion visited Corporate One Federal Credit Union.

Bill Herring, CEO of Cincinnati Central Credit Union, is active in the League/WOCCU affiliation, and commented, “These partnerships are essential to our mission as credit unions, and are a key factor in the credit union difference. Ohio credit unions have a long-standing record of cooperation among cooperatives, and this is a great way to continue that tradition.”

FEDCAR was formed in 2004, two years after WOCCU’s project to strengthen Romanian credit unions ended.  The Federation began with seven credit unions totaling 8,000 members and has since grown to 17 credit unions totaling 72,000 members.  Credit unions in Romania operate solely as basic savings and loan institutions, limiting their growth opportunities. 

FEDCAR approached WOCCU for assistance in finding an international partner to help create new opportunities for its credit unions. WOCCU recommended the Ohio League and affiliated credit unions as a result of their past successful partnerships with credit unions in Bulgaria and Bolivia. 

“This partnership is important for FEDCAR and Romanian credit unions as it represents our cooperative roots and our future,” said Simion. “This is what we need to push our credit unions ahead to give them a viable future and make them better financial institutions for the benefit of the members.”

FEDCAR and the League agreed to continue the partnership prompted by WOCCU.  A trip to Romania by an Ohio delegation in 2011 was discussed. 

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The Ohio Credit Union League, with offices in Columbus, is a state trade association representing 390 credit unions. Credit unions are not-for-profit financial institutions owned and democratically-controlled by their members. Ohio credit unions provide savings, loans, and other consumer financial services to their 2.66 million members. To learn more, visit www.OhioCreditUnions.org.