MADISON, Wis.—Nearly $1.3-million has been donated by credit unions and other organizations to the Worldwide Foundation for Credit Unions in just three months, ensuring $1 million in matching funds will be provided as part of the CUNA Mutual Group Challenge.
As CUToday.info reported, CUNA Mutual Group announced the Challenge in April to help support World Council’s work to champion and grow credit unions and cooperative finance worldwide.
According to WOCCU, Challenge donations to Worldwide Foundation help to advance the purpose of four key initiatives:
- Credit union development
- Project Storm Break relief aid
- Global Women's Leadership Network (GWLN)
- World Council Young Credit Union Professionals (WYCUP)
Reinforcing the Brand
WOCCU said the Challenge also offered Worldwide Foundation a chance to reinforce its brand as the industry's gateway to an international credit union journey for institutions and individuals through its Global Bridges program.
"I went on a 2018 Worldwide Foundation Field Engagement to Thailand and gained a new understanding of how credit unions there were prioritizing the social welfare of their communities,” said Maurice Smith, CEO of Local Government FCU and Civic FCU, which both donated to the Challenge. “I brought that back to North Carolina and wove it into our strategic plan, which will allow us to better serve members and be more competitive. To appeal to credit union leaders in the United States on the important missions of both the World Council and Worldwide Foundation, we must show how they provide value in advancing our own institutions. We can broaden our horizons by going to the World Council and asking, ‘How is the rest of the credit union world operating and servicing members?’’’
50th Anniversary Being Celebrated
WOCCU noted CUNA Mutual Group’s matching contribution of $1 million comes as World Council celebrates its 50th anniversary in 2021,
“positioning the organization to successfully support credit unions in growing economies by promoting financial inclusion, strengthening institutions, and providing policy and regulatory support for the next 50 years.”
“The contributions made as part of this challenge will go a long way in providing disaster relief, financial education and empowerment to women and young professionals in areas that need it most,” said Robert N. Trunzo, president and CEO of CUNA Mutual Group. “The credit union leaders that stepped up to this challenge to not only meet the goal, but beat it, have demonstrated the cooperative spirit of our industry and proven we’re stronger together.”