MADISON, Wis.–The Worldwide Foundation for Credit Unions is reporting that through March 23 nearly 20 CU organizations had donated or pledged sums of at least $10,000 individually to its Ukrainian Credit Union Displacement Fund, with the total of all donations now at just over $480,000.
Among the donors:
$100,000
- California and Nevada Credit Union Leagues
- California Credit Union (has pledged to match donations by members and staff up to $100,000).
$75.000
- Corporate America Credit Union
$25,000
- Oregon State FCU
- Peach State FCU
- WE Florida Financial
$10,000
- Alaska USA Federal Credit Union
- CUNA Mutual Group Foundation
- Illinois Credit Union Foundation
- Georgia United Credit Union Foundation
- Greater Nevada Credit Union
- Mountain West Credit Union Foundation
- Northwest Credit Union Foundation
- Patelco Credit Union
- Salal Credit Union
- Sound Credit Union
- UW Credit Union
Overwhelming ‘Generosity’
"The generosity of our U.S. and international credit union communities has been overwhelming. Individuals and institutions are stepping forward to assist in the relief of displaced Ukrainian credit union members and citizens in conjunction with supporting our plans to aid in the recovery of Ukraine's credit union system,” said Mike Reuter, Worldwide Foundation for Credit Unions Executive Director. “Our task force, comprised of internal and external stakeholders will strategically deploy this critical resource in helping address the short and long term needs of our Ukrainian credit union colleagues.”
Help for Refugees
WFCU disbursed the first $50,000 from its Ukrainian Credit Union Displacement Fund to the Podolsk Regional Development Agency (PARD), a Ukrainian non-governmental organization that is providing humanitarian assistance to hundreds of refugees from Kyiv, Kharkiv, Mariupol, Kherson, Melitopol and other cities who are seeking refuge in the Vinnytsia region of western Ukraine.
In the long term, World Council of Credit Unions (WOCCU) said it stands ready to fulfill its core mission of improving lives through credit unions. Using donations to the Displacement Fund, WOCCU said it will work closely with Ukrainian and other regional credit union partners to identify the biggest needs for recovery and rebuilding.
Need to Re-Establish Regulatory Environment
WOCCU further said it anticipates there will be a demand for re-establishing a “prudent regulatory and operating environment that will allow credit unions to focus on individual needs, support of small and medium enterprises (SMEs) and agricultural lending designed to help in the economic recovery of the Ukrainian people.”
WOCCU said it can provide this assistance in Ukraine and in any other countries where credit unions are well positioned to continue to serve Ukrainian refugees.