Credit/Shutterstock
Officials with the Madison, Wis.-based TruStage, formerly CUNA Mutual Group, announced a new effort to raise the profile of the credit union system in Africa.
According to Friday's announcement, TruStage signed a Memorandum of Understanding (MOU) with the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) to help establish the ACCOSCA Academy Centers of Excellence. This support, which comes in the form of TruStage providing two full-time employees to ACCOSCA, aims to "build the foundation to grow international awareness, advocacy and connections" for the credit union system in Africa.
The MOU, according to TruStage, will be in effect for five years and came after the organization contributed $125,000 to ACCOSCA "to enable African savings and credit cooperatives employees to take advantage of training and educational opportunities."
ACCOSCA Executive Director George Ombado said, "We believe the collaboration between ACCOSCA and TruStage will lead savings and credit co-operatives to grow households' financial security across our continent. TruStage's financial and technical contribution enables us to realize our dream of establishing a Co-operative Centre of Excellence to enhance the institutional strengthening of financial co-operatives across the continent while building the financial capability of countless families."
TruStage President/CEO Bob Trunzo added, "For nearly 90 years, TruStage has embodied the credit union philosophy of 'people helping people' in its many efforts to ensure brighter financial futures are accessible to everyone. We're proud of this important milestone in our history – celebrating the partnership between TruStage and ACCOSCA – by working together to help address the financial needs and education of underserved populations in Africa."
Bob Trunzo According to both organizations, the MOU was signed during the African-American Credit Union Coalition conference recently held in Georgia. Also in attendance for the signing was Terrance Williams. Williams was named to succeed Trunzo as the TruStage president/CEO in October.
Terrance Williams "George and the ACCOSCA team are doing important work by supporting the development of a stronger financial system within the continent of Africa. This work can be an example to other countries seeking a means to create financial inclusion and wealth within their nation," Williams said. "I'm happy to be part of ACCOSCA's work in Africa and am encouraged by what this means for our continued pursuit of financial well-being for all."
© 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.
Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
