New Institute for Credit Union Directors

MEDIA RELEASE
Embargoed until 11am, 1 March 2007

New Institute for Credit Union Directors

AUCKLAND, WEDNESDAY, 28 FEBRUARY 2007 - The Credit Union Institute of New Zealand (CUINZ) has been established to promote excellence and professionalism in the governance and management of Credit Unions through adherence to a Code of Ethics and ongoing education.

CUINZ will work closely alongside a range of training providers including the New Zealand Association of Credit Unions, the Australasian Credit Union Institute and the Institute of Directors in New Zealand Inc. to assist directors and senior managers in their continuing professional development.

“As well as facilitating ongoing education and professional development, the Institute will ensure those involved with the governance of Credit Unions meet with the ‘fit and proper person’ requirements and, most importantly, adhere to our Code of Ethics,” says John Keenan, CUINZ President.

“In her speech at the New Zealand Association of Credit Union’s 2006 annual conference, the Minister of Commerce, Hon Lianne Dalziel commented favourably on the proactive approach Credit Unions are taking towards industry regulation through the development of CUINZ.”

The Institute will offer its members and associates, opportunities to gain additional competencies and capabilities utilising the existing New Zealand Association of Credit Unions distance study programme to achieve a Certificate in Credit Union Governance as a foundation qualification. Additional study will enable members to obtain an Advanced Certificate in Credit Union Governance.

A National Diploma in Financial Services will be developed for Credit Unions at some time in the future and will be available within the New Zealand Tertiary Qualification Framework.

CUINZ Rules have now been approved by the Registrar of Incorporated Societies and CUINZ is registered as an incorporated society. The management committee comprises John Keenan, President, Peter Barber, Council Member, Brian Hancock, Council Member, Doug Armstrong, Independent Council Member, and Deborah Lee, Registrar.

CUINZ will be launched 1 March 2007.

ENDS

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