WASHINGTON—Several House and Senate committees have been sent an update on international credit union priorities as Congress considers funding for the U.S. Agency for International Development (USAID).
America’s Credit Unions sent letters to the House and Senate appropriations committees, as well as to the House and Senate foreign relations committees.
“We respectfully request that Congress authorize and appropriate funding for WOCCU’s efforts in the Ukraine region, Israel, and many other countries either through USAID’s Cooperative Development Program (CDP) funding or otherwise to specifically assist credit unions that are working to provide critical security and economic assistance to both regions,” wrote America’s Credit Unions President/CEO Jim Nussle. “We are writing in strong support of a fiscal year 2025 funding levels of $50 million for the CDP.”
According to the trade group, CDP activities have supported over 500 cooperatives and credit unions in over 18 countries with a combined savings of $495 million.
Additional Requests
America’s Credit Unions also requested:
- $30 million to expand for the Credit for Agriculture Producers’ Technical Assistance Project to support Ukrainian credit unions
- $50 million to support the efforts of countries adjacent to Ukraine to support “reintegration of Ukrainian displaced persons and refugees, enhance local economic stability and growth via investing in credit union financial services provision for agriculture, small business and vulnerable populations, and to mitigate global food insecurity through credit union supported agricultural lending across the region.”
WOCCU Makes Request
The World Council of Credit Unions also requested support for cooperatives in Israel, the West Bank, and Gaza that would fund housing, entrepreneurship, employment, and financial inclusion, including $10 million to address the needs of displaced Palestinians.
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