SOPOT, Poland–credit unions in Poland have been able to purchase additional ambulances to help Ukrainian refugees as the result of donations to the newly created Polish American Credit Union Relief Fund.
Offering an update from Poland was Rafal Matusiak, president and CEO of that country’s CU trade association, the National Association of Credit and Savings Unions (NACSCU), who said that when Polish Secretary of State Adam Kwiatkowski called on all institutions in Poland to help Ukrainian refugees, one of the projects that Polish credit unions took on was to provide ambulances for the evacuation of sick children, pregnant mothers, handicapped and, now injured persons from Ukraine to Polish hospitals.
“With roads congested, bombed and hours, or sometimes days waiting to cross the border, credit union provided ambulances have saved many lives,” said Matusiak. “We are grateful to (American Heritage CU CEO) Bruce Foulke and those of you who have contributed over $160,000 this past week for the purchase of additional ambulances. You enable us to save more lives.”
Why Polish CUs?
Matusiak said that with so many organizations responding to the relief effort, some people have been asking, “Why Polish credit unions?” and “What is different about what credit unions are doing?”
Matusiak’s response: “Polish credit unions have supported the struggle for freedom and democracy of our Ukrainian brothers and sisters for more than 30 years and we are right here on the border receiving and comforting refugees every day. What is different about what we do is that we are not just another group providing relief. We work to help refugees move from relief to economic stability. We help them find housing, schools and jobs. We help them open a savings account and access payment services to give them a path of economic security and hope for the future. This is what credit unions do.”
Update from World Council
Separately, on its blog, the World Council of Credit Unions (WOCCU) is reporting that due to martial law, the National Bank of Ukraine (NBU) on March 31 extended deadlines that credit unions and other non-bank financial institutions face for reporting on any follow-up measures recommended to them during inspections of their institutions over the course of 2022.
The NBU has also postponed the submission of all action plans based on the regulator’s recommendations or any objections to those recommendations, WOCCU said, adding that nonbank financial services market participants will not be required to provide any of that information until 30 business days after martial law is lifted in Ukraine.
“This most recent move comes just a week after the NBU declared that credit unions do not need to treat any missed loan payments that occur from February 28, 2022 to within 60 calendar days after the termination of martial law as delinquent or overdue,” the World Council stated.
WOCCU said it had advocated for that measure and continues to work through its International Advocacy team and its USAID-funded Credit for Agriculture Producers’ (CAP) Project to advocate for emergency regulatory reforms before the NBU on behalf of Ukrainian credit unions, so that they may continue to serve members and communities despite the ongoing conflict.
How to Make Donation
To make a donation to Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund, click here.
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