Development of the Togo National Credit Union Association

The African Cooperative Savings and Credit Association (ACOSCA), the World Council of CU"s (WOCCU), and the CU National Association (CUNA) will help CONAUDEC implement the project. The project will make CONAUDEC - which will be legally established prior to the project and given an experienced Togolese managing director - financially and technically capable of providing needed services to its member CU"s. Specifically, CONAUDEC will establish: (1) a central administrative system, including necessary policies and procedures; (2) a central liquidity facility which will redistribute surplus funds to CU"s with high loan demands while also helping to capitalize CONAUDEC; (3) a small farmer production credit (SFPC) program aimed at increasing member savings and the number of production-oriented, income-generating loans; (4) a financial management system, including an accounting system; (5) a 5-year development plan that will include ongoing evaluation and monitoring activities; (6) a risk management program providing insurance to CU"s and their individual members; (7) a system whereby CONAUDEC will communicate regularly with its member CU"s via meetings of CU board directors and status reports; and (8) joint service centers for small CU"s. CONAUDEC will also regularly inspect CU member operations, develop guidelines regarding minimal size of affiliated CU"s, and establish regional offices to help local CU"s become fully functional and self-sufficient. In support of these efforts, ACOSCA will provide on-the-job and/or formal training to CONAUDEC field agents and central staff (the managing director, the central finance, risk management, and training officers, and an accountant), as well as seminars for CU managers and CU committee members in both basic and more advanced skills. By the end of the project (which the Centre International du Credit Mutuel and Bread for the World will also support), 115 CU"s comprising over 14,000 members and with total savings of $2.8 million and total loans outstanding of $1.7 million will be affiliated to CONAUDEC.