PHILADELPHIA–The former president of the World Council of Credit Unions and one credit union CEO have headed to Poland to explore what American credit unions can do to support their counterparts in Ukraine as the Russian invasion takes a mounting toll.
Separately, the World Council is also offering ongoing blog updates from Ukraine.
Retired WOCCU President Brian Branch, who currently serves as an advisor to the Polish regional credit union center, has been joined by Bruce Fouke, CEO of American Heritage FCU, have gone to Poland, which neighbors Ukraine and which has seen millions of refugees from Ukraine, to work with Rafal Matusiak, president of the National Association of Cooperative Savings and Credit Unions (NACSCU) and Chair of World Council of Credit Unions. American Heritage is sponsoring the trip.
Since the fall of communism in Poland, the country has has developed a vibrant credit union community. As CUToday.info reported earlier and separately, Ukraine also has a growing credit union community, but it, like the country itself, is expected to be hit hard by the Russian attack.
‘They Are Friends’
Sue Mitchell, who leads Mitchell Stankovic Associates and who has been very active internationally, said Polish credit unions have been inviting the refugees into their homes as they arrive, as well as sending food, medical supplies and evacuation assistance to those in Ukraine.
“Many of us know these credit union people. They are friends. They have a strong credit union system,” said Mitchell in an email seeking support for the initiative. “They welcomed us into Gdansk. We started (Global Women Leadership Network) sister societies together. We did a field engagement in Kiev and Liev! This is personal to many of us! We need to Stand Up!”
Mitchell said Branch urged America’s credit unions to connect with the Polish credit unions, which have long established channels to provide support to the Ukrainians.
‘On the Ground’
“(Branch and Foulke) will be on the ground with Polish credit unions who are deeply engaged in the refugee relief effort. The team will identify and prioritize items needed immediately,” stated Mitchell. “Some funds will be needed for food, shelter and medical supplies. Other items may need to be purchased here and sent to Poland depending upon supplies locally. For example, Ukrainians are asking for camping equipment as the people of Ukraine move to the mountains to fight for their homeland.”
Mitchell said that Polish credit unions have established several channels for delivering relief to refugees and Into Ukraine, and that Foulke and Branch will be assessing what the most effective channels are for connecting relief from the U.S. to the Polish Credit unions to support this effort.
Foulke and Branch will also be providing an update to credit unions in the U.S. later this week on what they have found in Poland.
WOCCU Blog Offers Updates
Meanwhile, on a blog it is hosting as the crisis in Ukraine continues, the World Council of Credit Union has shared a post from the National Bank of Ukraine (NBU), which serves as the country's central bank.
The World Council said it created the page as a resource for the latest news and information about how credit unions in Ukraine are faring in the face of the Russian invasion, and how the worldwide credit union movement is responding to help them. To make a donation to Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund, click here.
“The USAID Credit for Agriculture Producers' Technical Assistance Project in Ukraine (hereinafter – the CAP Project), implemented by World Council of Credit Unions (WOCCU), has actively joined the National Bank’s efforts to support Ukrainian credit unions,” the NBU said. “Thus, through the CAP Project initiative, USAID allowed the United Credit Unions of Ukraine to use the finance previously provided by the Project for agricultural lending development to ensure the liquidity supply of credit unions. This will allow them to quickly repay the savings of some depositors.
“WOCCU and the CAP Project also plan to establish an international platform that will accumulate financial and technological resources to restore the credit union operations in Ukraine. To that end, under the auspices of WOCCU and the CAP Project, a dialogue is being initiated with institutions engaged in social lending and microbusiness financing.
“In addition, WOCCU, the credit unions of Canada, the United States, Poland and Lithuania are ready to provide financial support to Ukrainian credit unions for the rapid resumption of their operations,” the post continued. ‘Thus, since the first days of the war, Ukrainian community-based credit unions in the United States and Canada have already provided $1 million to support Ukraine.”
‘Assistance Invaluable’
Added Olga Maksymchuk, director of the Nonbank Financial Services Supervision Department of the National Bank of Ukraine, “The National Bank appreciates the efforts of international partners aimed at supporting the credit union operations in Ukraine. Assistance to credit unions in these difficult times for our country is invaluable.”
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