A delegation that included representatives from the World Council of Credit Unions, CUNA, leagues and credit unions traveled to Cuba Oct. 12 to promote the financial cooperatives.
World Council's President/CEO Brian Branch, Vice President of Member Services Victor Corro and General Counsel Michael Edwards were joined by CUNA CEO Jim Nussle and his wife, Karen, who is executive director of educational grant writing firm Collaborative for Student Success. Other confirmed travelers included League of Southeastern Credit Unions President/CEO Patrick LaPine, California and Nevada Credit Union League President/CEO Diana Dykstra, Michael Ostrowski, president/CEO of the $121 million Arrha Credit Union in Springfield, Mass., and Dan Mica and Paul Mica of the Washington-based lobby firm DMA Group.
Additional travelers included on the itinerary but not confirmed by press time included Montana Credit Union Network President/CEO Tracie Kenyon, John Neusaenger, president/CEO of the $202 million Orlando FCU in Orlando, Fla., Eddie Black, president/CEO of the $24 million Trico Community Federal Credit Union in Helena, Mont., and Buster Castiglia, president of the Miami-based Castiglia Financial Solutions.
Recommended For You
According to the itinerary, the trip planned to attend meetings with MINREX, Cuba's Ministry of Foreign Affairs, the economic department at the University of Havana and representatives from Banco Nacional de Cuba. The delegation also planned site seeing visits to Plaza de La Revolucion, Old Havana, UNESCO World Heritage Site, El Morro Castle, the Statue of Jesus Christ of Casa Blanca and Finca Vigia-Hemingway's country home and museum.
The cost of the mostly-inclusive trip was $2,605.50 per person plus travel to and from Miami according to the itinerary. The group returns to the U.S. on Wednesday.
CUNA Senior Media Relations Manager Vicki Christner said all credit union CEOs that participated in the trip were from CUNA member credit unions.
Branch visited Cuba in July to meet with the island nation's economists regarding financial services, and returned later that month to meet with government officials and engage in a government policy dialog to establish a legal framework for credit unions, according to CUNA.
Former CUNA CEO Dan Mica told CU Times in February Cuba could be ripe for a credit union movement.
"We saw it work in Poland," he said. "It was difficult for former Soviet bloc countries to move from communism to capitalism. Poland moved to the cooperative sector and became the fastest growing financial system among those countries."
However, Dr. Sandra Torres, an international management consultant, assistant professor at the Miami Dade College School of Business and former auto programs manager at the $550 million Tropical Financial Credit Union in Pembroke Pines, Fla., warned establishing credit unions in Cuba wouldn't be easy. Multiple currencies, unfamiliarity with basic products like credit cards and bureaucracy were among the potential challenges, she said.
On Dec. 17, 2014, President Barack Obama ordered the restoration of full diplomatic relations with Cuba and the opening of an embassy in Havana. However, according to U.S. Department of Treasury, the U.S. embargo on Cuba remains in place. Travel to Cuba from the U.S. is permitted for official U.S. government business, certain intergovernmental organizations, professional research and professional meeting, support for the Cuban people, humanitarian projects, activities of private foundations and other activities approved by the U.S. government.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
