WASHINGTON–Credit union leaders gathered here were offered updates on events in other parts of the globe as part of Cooperative Voices event hosted by the Worldwide Foundation.
The event, which was held at the International Spy Museum in conjunction with America’s Credit Union’s Governmental Affairs Conference, also attracted a number of government ministers from countries in Africa, including Kenya and Botswana.
George Ombado, who leads Africa’s credit union trade association, ACCOSCA, noted the continent is now home to 1.3 billion people, where the median age is 18.
“It’s a continent with huge potential,” said Ombado, noting those government ministers were in attendance because they believe in “the power of cooperatives.”
But Africa is also experiencing great poverty and inequality, as well as problems in education and healthcare, he added.
Shattered Dreams
“Dreams in Africa have been shattered by poverty and a lack of adequate infrastructure,” Ombado said. “Without education children are trapped in a cycle of disadvantage.”
Ombado noted that in 2014, after he participated in the program in the U.S., Africa launched its own Credit Union Development Education program. Now, more than 100 people have graduated from 26 countries across Africa.
“Is it a turning point for continent of Africa with credit unions?” asked Ombado. “My answer is yes.”
Update from Ukraine
Meanwhile, attendees were also offered an update on what is happening in Ukraine, and while the news is not good, it was delivered with some hope.
Alisa Stetsyshyn, a consultant on the USAID-funded WOCCU Credit for Agriculture Producers (CAP) Project, shared with the meeting the fate of her home town, Kharkiv, which she noted is “very unlucky to be 20 miles from the border with Russia.”
Initially, the city’s one-time population of 1.8 million people shrunk to 300,000 in 2022 after the Russians invaded, but it has since rebounded to some 1.3 million, even though she noted, “the shelling continues.”
“Some areas were liberated and people wanted to go home,” said Stetsyshyn. “You probably are asking why. Even though a lot is destroyed, it is still a beautiful city that’s hard not to fall in love with.”
Before & After Video
Stetsyshyn shared video of the city both before and after the Russian attacks.
For those who have returned to Kharkiv, they need to rebuild their homes and restart businesses, and they need “affordable financing.”
“And there is no place better for that than credit unions,” Stetsyshyn said. “But credit unions have their challenges. The Worldwide Foundation has stepped in to provide support. Our goal in 2024 is to support credit unions in war-torn areas.”
Stetsyshyn said a pilot project in Kharkiv, where her family continues to live, has been underway with a credit union that is now making loans.
Providing Hope
“There has been a lot of destruction, but you can also see the hope,” she said. “People hope to rebuild and go back to a normal life. This is what credit unions are giving their members, hope, even in the most difficult times.”
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