Banking - Credit Unions

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L'Association Internationale des Banques Coopératives est une organisation sectorielle créée pour promouvoir le développement des coopératives bancaires dans le monde entier.

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Banking

The International Cooperative Bank Association is a sectoral organisation established to promote the development of banking cooperatives around the world.

Central Union of Agricultural Credit Cooperatives

Submitted by zuraidah.hoffman on Fri, 22/05/2020 - 14:31

Turkey’s Central Union of Agricultural Credit Cooperatives took a series of measures to protect its members against COVID-19 and helped primary cooperatives continue their grassroots work. All enforcement and bankruptcy proceedings carried out throughout the country have been suspended as of 30 April 2020. The union offered flexibility on loan payments. A force majeure note was recorded in the Register in the Risk Center to address farmers credit debt. Loan principal and interest amounts set to expire in April and May will be postponed for 2 months without interest.

NTUC FairPrice Cooperative

Submitted by zuraidah.hoffman on Fri, 22/05/2020 - 14:28

Singapore-based NTUC Income announced that over 500,000 employees of organisations insured by its Group Employee Benefits policies will receive COVID-19 coverage at no additional premium.  NTUC FairPrice Cooperative (FairPrice) supplied food and daily necessities.

International Cooperative Banking Association

Submitted by zuraidah.hoffman on Fri, 22/05/2020 - 14:07

The International Cooperative Banking Association reported that the Polish National Cooperative Council developed multiple measures to support cooperatives. This included accessing exemptions for cooperative employees from paying social security contributions and for cooperatives to be exempt from taxes and levies in Q2 based on the percentage of loss in income. Further, the Cooperative Bank of Kenya donated US$1 million to the government of Kenya to help to contain spread of COVID-19.

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