CUNA Mutual Group announced in a press release today it will contribute $125,000 toward The ACCOSCA Academy, a project of the African Confederation of Cooperative Savings & Credit Associations (ACCOSCA), to enable employees of African SACCOs (Savings and Credit Cooperatives) to participate in education and training.
The contribution is part of an effort of American credit unions and their partners to raise $1.2 million for the organization.
The Academy will work to increase competencies at all levels, prepare leaders, and will introduce new ideas and effective problem-solving strategies, according to the press release.
“At CUNA Mutual Group, we believe a brighter financial future should be accessible to everyone. We’re proud to support the ACCOSCA Academy in its efforts to address the socio-economic needs of the African people. We’re part of a connected worldwide community; and in working in collaboration with one another, we can achieve financial well-being for all,” CUNA Mutual Group president and CEO Robert N. Trunzo said in a statement.
The ACCOSCA Academy will meet the socio-economic needs of African villages and cities, neighborhoods and nations through the SACCO network of institutions. Working with government and development agencies, research institutions, companies and individuals, The ACCOSCA Academy, National Associations, and SACCOs are committed to directly serving African people not generally served by the formal financial sector.
“The commitment of our African financial services community in addition to the commitment from our U.S. supporters is quickly making our vision of The ACCOSCA Academy a reality. This collaboration of cooperatives is soon going to strengthen African communities across our country. Thank you to CUNA Mutual Group for the support of our vision, and commitment to improving communities across the globe with support of cooperative financial institutions,” ACCOSCA executive director George Ombado said in a statement.
The ACCOSCA Academy will reach SACCO staff, management, board members, regulators, and community members in 27 African countries representing more than 750 million consumers and has already received financial support from African SACCOs.