MADISON, Wis.–The Worldwide Foundation for Credit Unions (WFCU) is reporting that in just six weeks it has raised more than $1 million for its Ukrainian Credit Union Displacement Fund.
That total includes donations from more than 1,100 individuals, over 140 credit unions and dozens of credit union leagues, associations, foundations and other industry partners, the Foundation stated.
“We continue to be overwhelmed by the incredible generosity of our global credit union movement,” said Mike Reuter, executive director, Worldwide Foundation for Credit Unions. “While it is not surprising, because we know how our international community comes together in times like these, it is humbling and overwhelming to see so much support come in such a short period of time.”
As CUToday.info reported, the WFCU, the charitable and engagement arm of World Council of Credit Unions, launched the Displacement Fund Feb. 27, less than one week after Russia invaded Ukraine.
“Russia continues to launch attacks on both government and civilian targets in Ukraine, causing death, destruction and the displacement of millions internally and across Europe,” the Foundation noted. “With that in mind, WFCU will continue to solicit donations to grow the current total of the Displacement Fund. A portion of the money raised is being designated for humanitarian aid efforts to assist credit union members and displaced Ukrainians. The rest is being earmarked for the long-term recovery and rebuilding of Ukraine's credit union system.”
Reestablishing Regulatory Environment
The World Council of Credit Unions said it anticipates there will be a demand for “re-establishing a prudent regulatory and operating environment that will allow Ukrainian credit unions to focus on individual needs, support small and medium enterprises (SMEs) and agricultural lending designed to help with the economic recovery of the Ukrainian people. WOCCU can provide this assistance in Ukraine and in any other countries where credit unions are well positioned to continue to serve Ukrainian refugees.”
To donate to the Ukrainian Credit Union Displacement Fund, click here.
WOCCU is also offering a Ukrainian Crisis Response Blog.