- Published: 20 September 2016
WASHINGTON–A new group has been formed made up of CU regulators from around the world. Credit union regulators from 30 jurisdictions have come together to form the International Credit Union Regulators’ Network (ICURN).
The organization grew out of an informal network of credit union regulators that has been operating since 2007.
In a statement announcing its formation, ICURN said it has become an important forum for financial cooperative regulators to share perspectives on the sound oversight and regulation of financial cooperatives.
“As an independent association, ICURN will facilitate the sharing of information, provide research, training and best practices on financial cooperative supervision and promote international coordination among financial services regulators as called for by the Group of 20 (G-20) nations,” the organization said in a statement.
Last week 52 supervisors from 22 countries met in Washington for ICURN’s first meeting as an independent association to discuss cyber security, credit risk assessments, governance, financial inclusion and mobile money developments.
“The development of ICURN as an independent and sustainable association for credit union supervisors around the globe is a reflection of both the value that is provided to supervisors over the years and the future anticipated needs,” said Martin Stewart, chairman of ICURN. Stewart is Director Banks, Building Societies and Credit Unions at the Prudential Regulation Authority at the Bank of England. Other members of ICURN’s steering committee include:
- Lucy Ito, National Association of State Credit Union Supervisors
- John Kutchey, National Credit Union Administration
- Francisco Mier, National Bank and Securities Commission (Mexico)
- John Mwaka, SACCO Societies Regulatory Authority (Kenya)
- Pat Ryan, Nova Scotia Credit Union Deposit Insurance Corp. (Canada)
- Sudarshan Sen, Reserve Bank of India
- Wiktor Kaminski, National Association of Savings and Credit Unions (Poland)
- Marie Boyer, Central Bank of Haiti
- Anne Marie McKiernan, Central Bank of Ireland
The group’s operations are being managed by Dave Grace & Associates. Grace was among the founders of ICURN.