06/12/2026
As the European Union reviews the competitiveness of its banking sector, the World Council of Credit Unions is advocating for a regulatory approach that recognizes the unique role of credit unions and financial cooperatives in Europe’s financial ecosystem.
In a letter to the European Commission, Paul Andrews, WOCCU's Vice President of International Advocacy, outlined why regulations designed for large commercial banks should not automatically apply to smaller, member-owned cooperative institutions.
The letter emphasizes several key advocacy priorities for the credit union sector, including:
• proportional regulation based on institutional size and risk profile
• protecting cooperative financial models and member-owned governance
• strengthening financial inclusion and community-based lending
• supporting digital accessibility without excluding vulnerable populations
• preserving local economic resilience and preventing financial deserts
• opposition to excessive market consolidation
• regulatory frameworks designed for scale differences, not one-size-fits-all rules
Europe's financial future should not belong only to the biggest institutions. Credit unions and cooperatives play a critical role in keeping finance local, inclusive and people-centered.