WCUC25: WOCCU Board Chair Mike Lawrence Talks Organizational Change, Tax Status, and Much More...

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WOCCU Board Chair and CEO of Australia's Customer Owned Banking Association (COBA) Mike Lawrence stopped by the Studio Lounge to discuss key points from his opening session keynote, as well as providing an WOCCU update and his WCUC highlights.

In particular, Mike highlighted global regulatory challenges, updates on the World Council, and the impact of USAID's closure.

As a bonus, he also discussed tax status issues in the US and Australia, ongoing consolidation in the credit union sector, and encouraged attendance at the 2026 WCUC in Sydney, Australia.

Q&A summary...
What are the key highlights of the 2025 World Credit Union Conference that Mike Lawrence mentioned?
Mike highlighted the importance of advocacy and the increasing level of regulation in banking as significant topics at the conference.
Can you explain the impact of the recent closure of USAID on the World Council's projects?
The closure of USAID without notice halted three significant projects, including one in Ukraine, forcing the World Council to pivot quickly.
What was the tax situation for credit unions in Australia, and how did losing tex exemption affect the industry in Australia?
Australian credit unions lost their tax-exempt status, transitioning to a corporate tax rate of 30%, which has significantly impacted their operations.
What advice would you give regarding advocacy for credit unions in the US?
He emphasized the need for proactive advocacy and not to be complacent, as regulatory challenges are a real concern for credit unions.
What can attendees expect from the upcoming World Credit Union Conference in Australia in 2026?
Attendees can look forward to a joint conference with a good contingent of Australians, and Mike suggests arriving a day or two early to adjust to the time difference.
What unique aspects of Sydney did Mike Lawrence highlight for the conference attendees?
Mike described Sydney as a lovely city, mentioning iconic landmarks like the Sydney Opera House and encouraging attendees to experience its beauty.

Check it out and let us know your thoughts. And be sure to visit our 2025 WCUC Studio Lounge interview archive page for more episodes of our conference coverage -- which was hosted/sponsored by World Council of Credit Unions, Worldwide Foundation for Credit Unions, and Visa.