Dear colleagues!
The National Union of Non Commercial Organizations of Mutual Financial Aid (the NU) was established on the 5th of February 2001. The NU founders are four Associations of credit unions: the Altay Association of Credit Unions (Barnaul), the Kuzbass Association of Credit Unions (Jurga), the Volgograd Association of Credit Unions (Volgograd), the Southern Russian Association of Credit Unions (Rostov-on-Don).
Nowadays the Northern Western Association of Credit Unions (St. Petersburg), the Association of Credit Unions of the Primorsky region (Vladivostok), the Non commercial partnership Povolzhie Credit Union League (Toliatty), the Consumer society “Women Business Center”, the Consumer society “Consumer Credit Union EKPA” (Uray), the Non Commecial organization “Consumer Credit Union “Stavropol-Credit” (Stavropol), the Association of Credit Unons of the Central region (Dubna), the Financial Cooperative “Rost” (Irkutsk) are members of the National Union. The National Union structures more than 160 coops consolidating altogether more than 200 members and running more than 3 billions of assets.
The main goal of the National Union is to create and develop the system of mutual financing between non commercial organizations. Credit cooperation movement has reached the stage of its development when without coordination of efforts on the national level it is almost impossible to solve problems in accounting, taxation, regulation of activities of coops, education of employees.
The National Union coordinates its members’ actions in developing standards for services of financial coops. A program complex called “Credit-Office®” — an operational program for a financial cooperative, as well as another software “Managing Information System”, which is a tool for immediate analyses of activities of a financial coop.
The Coordination Council in standardization, technical, loyal and methodological support, accounting and taxation in financial coops was created to serve the purpose of working out a common NU members’ policy in the sphere of standards, accounting and taxation, law and methodology support of financial coops. There are plans to establish an educational methodic center under supervision of the NU to develop and carry out educational events in the sphere of credit cooperation.
The Union of Rural Financial Coops is a dependable partner of the National Union. On the 2nd of November 2001 the NU and the Union of Rural Coops set up a Coordination Council which mission is to contribute to efficient development of consumer credit cooperation in Russia. The National Union is a member of the Association of Russian Banks that helps to optimize relationships between financial cooperation and banking system.
We realize that together we can do much more than each of us alone. We are united by the common goal – to help people overcome financial difficulties. So, what has been done and will ever be created within the framework of the National Union is available for all its members. Collaboration is the main principle of our work.
Juri N. Volokhonsky
NU Board Chairman