Ukrainian Credit Union Displacement Fund total tops $1 million
MADISON, WI (April 13, 2022) — In just six weeks, Worldwide Foundation for Credit Unions (WFCU) has raised more than $1 million for its Ukrainian Credit Union Displacement Fund.
That total includes donations from more than 1,100 individuals, over 140 credit unions and dozens of credit union leagues, associations, foundations and other industry partners.
“We continue to be overwhelmed by the incredible generosity of our global credit union movement. While it is not surprising, because we know how our international community comes together in times like these, it is humbling and overwhelming to see so much support come in such a short period of time,” said Mike Reuter, Executive Director, Worldwide Foundation for Credit Unions.
WFCU, the charitable and engagement arm of World Council of Credit Unions, launched the Displacement Fund February 27, less than one week after Russia invaded Ukraine. Russia continues to launch attacks on both government and civilian targets in Ukraine, causing death, destruction and the displacement of millions internally and across Europe.
With that in mind, WFCU will continue to solicit donations to grow the current total of the Displacement Fund. A portion of the money raised is being designated for humanitarian aid efforts to assist credit union members and displaced Ukrainians. The rest is being earmarked for the long-term recovery and rebuilding of Ukraine’s credit union system.
World Council of Credit Unions anticipates there will be a demand for re-establishing a prudent regulatory and operating environment that will allow Ukrainian credit unions to focus on individual needs, support of small and medium enterprises (SMEs) and agricultural lending designed to help with the economic recovery of the Ukrainian people. WOCCU can provide this assistance in Ukraine and in any other countries where credit unions are well positioned to continue to serve Ukrainian refugees.
To donate to the Ukrainian Credit Union Displacement Fund, click here.
To stay updated on how Russia’s invasion of Ukraine is impacting credit unions there, visit our Ukrainian Crisis Response Blog.
About World Council of Credit Unions
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 90 countries. Worldwide, 86,451 credit unions in 118 countries serve 375 million people. Learn more about World Council's impact around the world at www.woccu.org.