By Bahamas Information Services

The Bahamas Cooperative League will host almost 1000 participants at the seventh annual general meeting of the International Credit Union Leadership Institute and the World Council of Credit Unions, Inc.(WOCCU), to be held August 1-4, 2004, at the Atlantis Resort on Paradise Island.

Prime Minister and Minister of Finance the Rt. Hon. Perry Christie will officially open the conference on Sunday, August 1, at 6:00 p.m. Mr Frank Davis, general manager, Bahamas Cooperative League, said the League had been lobbying for eight years for the conference to be held in The Bahamas, and was able to win the bid to host the 2004 leadership institute with the support of the Caribbean Confederation of Credit Unions.

The Bahamas, said Mr Davis, has always been well represented at the conferences with contingents of up to 40 persons, which reinforced their bid to host the conference.

Participants will include senior persons on boards and chief executive officers of credit unions around the world, who will bring a vast amount of experience and innovative ideas to share with each other.

Mr Davis said many of the presenters will discuss best practices observed in their travels, and they will share those with and expose participants to the best of credit unions.

"These meetings help to keep us all on the cutting edge of what is happening with financial institutions, not just credit unions," said Mr Davis.

"Credit unions are special financial institutions, but we have to maintain all the standards or try to exceed the standards of good financial institutions."

He said the meeting is an opportunity for Bahamians to find out more about credit unions, and to recognize that credit unions are not isolated independent bodies, but have a worldwide connection with a tested philosophy and presence in some 79 countries.

"Bahamians need to give thought to the fact that these well established institutions that are owned by members, and have consistently been paying members good dividends, offering very competitive and advantageous services, may be financial institutions they might want to think about joining," Mr Davis said.

The Bahamas Cooperative League, registered in 1980, is the non-governmental umbrella body of cooperatives. Its role is to promote the development of cooperatives, and to be the lobbyist and international representative for credit unions.

Presently the League has a membership of 20, which includes 15 credit unions and five producer/supplier cooperatives.

As a member of the Caribbean Confederation of Credit Unions, The Bahamas Cooperative League is also affiliated with the World Council of Credit Unions.

The (WOCCU) is the worldâs leading advocate, platform for knowledge exchange, and development agency for credit unions. WOCCU has members and affiliates in 79 countries around the world.

Members include regional and national credit unions, associations, cooperative associations, and business service organizations, representing more than 40,000 credit unions and serving 118 million members.

Countries to attend the conference include Australia, Barbados, Bolivia, Ecuador, Germany, Guatemala, Hong Kong, Mexico, Netherlands, New Zealand, Nigeria, Saint Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Singapore, Brazil, Canada, Chile, Colombia, Ireland, Jamaica, Kenya, Republic of Korea, Malawi, Panama, Peru, Philippines, Poland, Puerto Rico, Thailand, Trinidad and Tobago, United Kingdom, United States.

The Bahamas Cooperative League, the Caribbean Confederation of Credit Unions, and Government of The Bahamas/Department of Cooperative Development, are joint hosts for the event