MADISON, Wis.—The World Council of Credit Unions has issued a statement rebuking Russia for its invasion of Ukraine, where it has member credit unions and where it is also involved in a project with USAID that it now says it is suspending.
“World Council of Credit Unions (WOCCU) harshly condemns the Russian government’s decision to invade the independent and sovereign nation of Ukraine and use military force to cause massive devastation, death and displacement there,” the World Council said. “Worldwide Foundation for Credit Unions, our charitable and engagement arm, has mobilized the Ukrainian Credit Union Displacement Fund to provide financial support to mitigate both the short- and long-term impacts to Ukraine’s credit union system, its employees, and the members and communities it serves.”
The World Council said it has also made the decision to “suspend all engagements and activities with Russia across all its entities and initiatives.”
WOCCU said its declaration comes in the face of Russia’s increasingly aggressive and indiscriminate attacks on both government and civilian targets that have deepened the humanitarian crisis in Ukraine.
The Worldwide Foundation for Credit Unions also said it will soon be releasing an updated plan for the use of donations coming into its Ukrainian Credit Union Displacement Fund. To make an individual or institutional donation to the Displacement Fund, click here.