Madison, WI—World Council of Credit Unions, Inc. (WOCCU) has activated its international disaster relief fund for benefit of credit unions devastated by last Saturday's Indonesian earthquake.
The 6.3-magnitude earthquake struck in the early morning close to the former Javanese royal capital of Yogyakarta. It has so far killed a reported 5,136 people, wounded nearly 6,504 and left 100,000 homeless. It is estimated that it may take up to two years for those affected to fully recover.
WOCCU will cooperate with the Canadian Cooperative Association (CCA) to assist affected credit unions. CCA has been working in Indonesia for the past 14 years strengthening cooperative organizations and primary credit unions.
According to the Credit Union Central of Indonesia website, Indonesian credit unions were organized under a 1967 cooperative law following visits by Mr. A.A. Bailey of WOCCU and Mr. Robby Tulus, who lobbied the government to get support for credit unions. There are currently 979 credit unions and more than 579,000 credit union members in the country.
To support the international credit union disaster relief fund and rebuilding of Indonesian credit unions, payments may be sent to: Worldwide Foundation for Credit Unions, Inc. 5710 Mineral Point Road P.O. Box 2982 Madison, WI 53701-2982. For credit unions or organizations that prefer to wire funds, contact Valerie Breunig, Worldwide Foundation Funds Manager, 608.231.7353.
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, 57,000 credit unions in 105 countries serve 217 million people. Learn more about World Council's impact around the world at www.woccu.org.