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Worldwide Foundation for Credit Unions launches fundraising campaign to support Ukraine War Veterans

WFCU President Mike Reuter seeks to raise $500,000 for effort after visit to veteran’s association in Ukraine

MADISON, WI (May 3, 2024)An April visit to Ukraine prompted Worldwide Foundation for Credit Unions (WFCU) President Mike Reuter to launch a new fundraising campaign to raise $500,000 for a credit union lending program aimed at providing accessible business loans to Ukrainian veterans and their families. 

To be launched through WFCU’s Project Storm Break initiative and in partnership with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project, the Venerate Ukraine’s Veterans Program comes after Reuter spent a week in Ukraine visiting credit unions, program beneficiaries and House of the Warrior, a space where veterans of the Russian war can receive legal, psychological and social counseling.

Partner credit unions in Ukraine will pass the $500,000 on through loans to veterans and their families who are looking to start businesses. The new three-year program aims to help over 500 veterans and families. 

“This trip is profoundly emotional,” said Mike Reuter, WFCU President, on his first day in Ukraine. “Standing here, I feel the sheer magnitude of honoring the fallen soldiers and citizens, all in the protection of freedom and sovereignty of Ukraine. Visiting Ukraine truly highlights how critical the work of WFCU is to the credit union system and providing financial freedom to Ukrainians.”  

Even prior to Russia’s invasion of Ukraine, WFCU and the CAP Project have been on the ground helping Ukrainians through several programs, including the Resilience Initiative, which provided over 100 loans worth more than $500,000 to underserved populations in rural communities. 

With credit unions well-positioned to address the financial challenges facing Ukrainians, including those returning from the war, it is critical to provide incentive programs and additional funds that reduce their risks and enable them to build long-lasting relationships, especially with new businesses and members. 

Through Project Storm Break, WFCU is the global first responder for credit unions after crises. For more information, please see the WFCU Ukraine Relief Results report

$500,000 of donations to the Ukrainian Credit Union Displacement Fund, a Project Storm Break initiative, will be allocated to support the Venerate Ukraine’s Veterans Program. To donate to the Ukrainian Credit Union Displacement Fund, click here


About Worldwide Foundation for Credit Unions (WFCU)

The Worldwide Foundation for Credit Unions, as the strategic partner of the World Council, bridges gaps impacting credit unions' ability to grow and advance financial inclusion worldwide. Our commitment to provide global credit union journeys augments our shared vision with World Council's of realizing a vibrant and growing global credit union movement. Worldwide Foundation's philanthropy advances World Council's technical capacity to strengthen credit union systems that advance financial inclusion to underserved communities.

Contacts

Rachel Miller
E-mail: rmiller@woccu.org
Phone: 608-395-2036

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