MADISON, Wis.—The Worldwide Foundation for Credit Unions has launched a new fundraising campaign to raise $500,000 for a credit union lending program aimed at providing accessible business loans to Ukrainian veterans and their families.
According to the foundation, the program is being launched through WFCU’s Project Storm Break initiative and in partnership with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project.
The foundation said the Venerate Ukraine’s Veterans Program followed a visit to Ukraine by its executive director, Mike Reuter, who visited with credit unions, program beneficiaries and House of the Warrior, a space where veterans of the Russian war can receive legal, psychological and social counseling.
Goal to Help 500 Veterans
The WFCU said partner credit unions in Ukraine will pass the $500,000 on through loans to veterans and their families who are looking to start businesses. The new three-year program aims to help over 500 veterans and families, according to the foundation.
"This trip is profoundly emotional,” said Reuter on his first day in Ukraine, according to the foundation. “Standing here, I feel the sheer magnitude of honoring the fallen soldiers and citizens, all in the protection of freedom and sovereignty of Ukraine. Visiting Ukraine truly highlights how critical the work of WFCU is to the credit union system and providing financial freedom to Ukrainians.”
More Than 100 Loans Made
WFCU noted that even prior to Russia’s invasion of Ukraine, it and the CAP Project have been on the ground helping Ukrainians through several programs, including the Resilience Initiative, which provided more than 100 loans worth more than $500,000 to underserved populations in rural communities.
“With credit unions well-positioned to address the financial challenges facing Ukrainians, including those returning from the war, it is critical to provide incentive programs and additional funds that reduce their risks and enable them to build long-lasting relationships, especially with new businesses and members,” the foundation said.
To donate to the Ukrainian Credit Union Displacement Fund, click here.
How to Sign Up For the Best Daily News Email in Credit Unions? (It’s Free!)
Every workday CUToday.info delivers the most comprehensive, freshest daily newsletter with the day’s news headlines, including links to the related articles. The Fresh Today newsletter is the most timely, relevant and widely-read source of news and information in the CU community. And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties,
And did we mention it’s free?