MADISON, Wis.—Four credit unions ravaged by floods last month in the Dominican Republic will receive grants for immediate rebuilding, thanks to CUNA Mutual Group’s Global Credit Union Disaster Relief Fund. The new fund is administered by World Council of Credit Unions (WOCCU) and was established to provide immediate financial assistance when a disaster strikes international credit unions.
The first grant of $5,000 was sent to Asociación de Instituciones Rurales de Ahorro y Crédito (AIRAC), World Council’s member in the Dominican Republic. AIRAC will oversee the grant distribution to affected credit unions.
“We’re pleased to help credit unions when disaster strikes,” said Javier Tejeda-Vera, vice president of Latin America for CUNA Mutual Group. “This grant will help the local credit unions, and through them their many members, get back on their feet more quickly.” The region has many farm families who need to replant their crops lost in the floods.
AIRAC has 14 credit unions with more than 200,000 credit union members in the Dominican Republic. They recently signed a partnership with the Wisconsin Credit Union League, and AIRAC leaders were visiting Wisconsin earlier this month when they learned of the grant.
The Worldwide Foundation for Credit Unions often carries out special appeals when a disaster strikes in countries with a credit union system. Valerie Breunig, Worldwide Foundation executive director, said this program differs from traditional relief appeals.
“The CUNA Mutual Global Credit Union Disaster Relief Fund is a permanent program, ready to allow WOCCU to respond immediately when disaster strikes, without waiting for a fundraising appeal,” Breunig explained. “This is the first of its kind for World Council.”
For more information on credit unions in Latin America and to help other credit unions rebuild after disaster, visit www.woccu.org. To donate to the Worldwide Foundation for general credit union preparedness, click “Support WOCCU” or call Valerie Breunig at 608.395.2055.
About CUNA Mutual Group
CUNA Mutual Group is the leading provider of financial products and services to credit unions and their members worldwide. More information on the company is available at www.cunamutual.com .
World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 56,000 credit unions in 101 countries serve 200 million people. Learn more about World Council's impact around the world at www.woccu.org.