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Connexus : Issue 42
A new corporate structure and board are part of CUFA's momentous transition on July 1 to becoming an independent organisation. As a wholly-owned subsidiary of Abacus, CUFA has experienced rapid growth and success over the past six years. It has now reached a stage where it needs a different model that matches its work as an international NGO rather than as a subsidiary of a membership- based organisation. CUFA was established by the Australian credit union movement in 1971 to help str uggling communities in the Asia-Pacifc region achieve a brighter future. In 2011, CUFA provided assistance to almost four million people living in poverty. "These achievements are possible only because of the donations we receive from the Australian mutual sector, along with the support we get from Abacus to run an NGO,” says CUFA chair Margot Sweeny. To prepare for its new organisational status, CUFA has developed a new The next chapter begins CUFA becomes an independent international non-government organisation this year. corporate structure, improved its governance systems and introduced new funding sources. It is also recruiting a new board with the necessary skills to govern a truly independent not-for-proft organisation. Mutual support While these are major changes, CUFA's vision and mission remain the same: mutuals promoting fnancial and social wellbeing in communities by providing access to affordable fnancial ser vices. CUFA will continue to invest in and promote programs that alleviate poverty in the region, drawing on Australian mutuals' support, volunteers, expertise and funding -- just as it has over the past 40 years of operation. "The team at CUFA is looking forward to the next chapter in the organisation's history and is excited about what the future holds for it as an independent entity,” says Sweeny. CUFA acknowledges that this exciting step would not have been Hall of Honour call The CUFA Hall of Honour has been relaunched with a new format and nominations for induction are now open. The Hall of Honour recognises, promotes and honours the contribution mutual directors, managers and longstanding staff have made in pioneering, serving and developing the sector. Induction into the Hall of Honour is the crowning achievement of any individual's mutual career, and it also recognises their organisation and the movement as a whole. Inductees will become part of a committee that gives existing and emerging mutual leaders opportunities to contribute to overseas movements in need of guidance and support from Australian mutual professionals. For more information on the new format, or to nominate a sector colleague for the Hall of Honour, visit ww w.cufa.com.au/hallofhonour. possible without the invaluable support it has received from a number of organisations along the way, especially Abacus, which will continue to support and work closely with CUFA to ensure a smooth transition over the coming period. ...the Hall of Honour is the crowning achievement of any individual's mutual career, and it also recognises their organisation and the movement as a whole. www.abacus.org.au 49