MADISON, Wis. — Heritage Family Credit Union and Cooperativa de Ahorro y Cr?(C)dito ABACO, a Lima, Peru-based credit union, have formed a partnership.

The arrangement will enable the Peruvian credit union to work closely with their Vermont counterpart to the mutual benefit of both parties, according to the World Council of Credit Union's International Partnership Program. The credit-union-to-credit-union partnership is a byproduct of the partnership between the Association of Vermont Credit Unions and the Federaci??n Nacional de Cooperativas de Ahorro y Cr?(C)dito del Per?? signed in May in Lima.

Ron Hance, president/CEO of Heritage Family CU and a WOCCU board member, formally signed the agreement pledging support on behalf of each of their credit unions. Rocio Miyashiro Kiyan, CEO of ABACO, and Manuel Rabines, CEO of FENACREP and member of the WOCCU board of directors, traveled to Vermont Tuesday for the event.

“We believe the partnership agreement should benefit both parties,” Hance said. “ABACO can benefit from our past experience in Vermont, and we can benefit from the unique way in which they approach their membership.”

The idea of the relationship first evolved out of a trip Hance and other credit union and association staff took to Peru in May.