WOCCU INTERNATIONAL OPERATING PRINCIPLES

Member Owned Credit unions and other cooperative financial institutions are owned by the consumers who use their services. All members are owners of the cooperative financial institution. The credit union is an autonomous private enterprise, within the framework of law and regulation, recognizing the credit union as a cooperative, serving and controlled by its members. Member Controlled Credit unions and other financial cooperatives are democratic organizations which are controlled by their members who actively participate in electing their board representatives and participating in the governance of the institutions. Men and women serving as elected representatives are accountable to the membership.