WASHINGTON–A credit union delegation and a former member of Congress met with USAID here about increasing international development funding.
The meeting included WOCCU President and CEO Brian Branch, CUNA CEO Jim Nussle, and former Congressman and House Foreign Relations Committee Chair Ed Royce. The group met with USAID Administrator Mark Green to appeal for a shift in the agency’s international development funding—now concentrated in a small circle of large organizations—to include a wider array of smaller, underutilized partners such as credit unions, WOCCU reported.
WOCCU noted credit unions around the world serve 260-million members in 117 countries, and that in many instances the communities often turn to their local credit unions for a response during geopolitical crises or natural disasters, and those credit unions often turn to World Council for guidance and the capacity to respond.
“This occurs in many countries prioritized by USAID,” WOCCU said.
Gaining Leverage
According to the World Council, Nussle and Royce urged Green to leverage more USAID dollars by working with community-based credit unions to develop programs that empower the self-reliance and economic potential of local citizens.
“We thank Administrator Green for his time this morning as we joined the World Council to discuss ways that not-for-profit financial cooperatives can improve the lives of individuals at home and abroad,” said Nussle in a statement. “The World Council has a long history of using the financial cooperative model to foster international development and increase access to financial services, and with continued engagement with USAID and other policymakers, credit unions can do even more.”
Branch said increasing the access to USAID award competitions would be a good way to begin the shift toward new and underutilized partners.
‘Open to Idea’
“This year World Council is successfully leveraging USAID funds to allow more small farmers to secure loans and grow their yields in Africa and Eastern Europe,” said Branch in a statement. “In Haiti, we’re helping to finance affordable green-housing initiatives and boost financial literacy programs. But none of that would be possible without the assistance and buy-in from our partner credit unions on the ground. Administrator Green seemed very open to the idea that this type of model that could be replicated across the world.”