December 6, 2011, New Ulm, Minnesota - As part of an ongoing international credit union exchange between the Paraguayan Credit Union Association Central De Cooperativas del Area Nacional Ltda (CENCOPAN) and the MN Credit Union Network, six delegates from Paraguay were guests at the New Ulm branch of SouthPoint Federal Credit Union recently.

In June, SouthPoint CEO Dick Nesvold traveled to Paraguay as part of the program. Through the partnership, the countries' credit union representatives are able to share ideas, knowledge and experiences.

During their time in New Ulm, the group had a tour of the city and attended a seminar on IT Infrastructure from SouthPoint personnel. They focused on the history of SouthPoint, products and services offered, and learned what makes SouthPoint unique, as well as considering our branch design, management and performance.

Nesvold said the value of the exchange is that U.S. credit unions can learn about Paraguay's use of micro-loans to very small businesses while Paraguayan delegates learn about how U.S. credit unions respond to increased government regulation.

Through the World Council of Credit Unions, the relationship between CENCOPAN and the MN Credit Union Network began in 2004.

Dick Nesvold, CEO of SouthPoint, explained that Paraguay is essentially a land-locked country. "There are minimal natural resources in Paraguay and because of that the economy is challenged," Nesvold explained.

Nesvold explains that the original "people helping people" philosophy of credit unions which began in the U.S. during the Depression era, has carried through to today's credit unions and hopefully in Paraguay as well. Partnering with CENCOPAN with those same ideals is one way to make credit unions in Paraguay a reality.

Nesvold has visited Paraguay four times since this partnership has begun and he believes in the success of the partnership. "Since 2004, when I was in Paraguay, I see their progress and the growth in their economy," he said. "We have been fortunate to have this partnership."

To see some pictures from their visit, please check out SouthPoint's Facebook page.