| MEDCo-supported, Ongoing Programs and Projects
Credit Union Empowerment and Strengthening (CUES) Program
http://philippines.usaid.gov/mindanao_cues.php |
CUES is a technical assistance
program working with credit cooperatives in Mindanao. Under the CUES-1 (1997–2002),
it implemented the “Model Credit Union Building” (MCUB) Program in Mindanao to strengthen
local credit unions and upgrade to international standards. CUES-II (2002-2005) established
the Model Credit Union Network to implement an internal regulatory framework for its members
to address problem of lack of regulation. Mindanao focus, limited operations in other
areas.(pls complete the sentence) Likewise, CUES-III (2005-2009) establishes a Deposit
Insurance Fund, expand MCUB activities to new Federations and credit union partners.
Still Mindanao focus, limited operations in other areas.
CUES' Progress to date:
Accomplishments under the
CUES Phase 3 for the first semester are the following:
- Installed MCUB in 49 credit unions with 177 branches;
- Provided financial services to over 720,000 credit
union members, most of which are in Mindanao;
- Established the Model Credit Union Network with 15 member credit
cooperatives complying with an internally established regulatory framework;
- Started to establish a Deposit Insurance Facility with members adhering
to set prudential standards and norms based on MCUB. This will protect the
credit union members’ deposits from loss due to financial mismanagement and
provide strong incentives to the credit unions to maintain financial discipline.
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