Philippines Disaster Relief Funds Announced
Madison, WI- World Council of Credit Unions,
(WOCCU) has activated its international disaster
relief fund for benefit of the savings and credit
cooperatives devastated by last Friday's
landslides in the Philippines.
WOCCU is reviewing damage reports from the
It is too early to estimate the credit union
damage, but many members have been affected. Some
1,800 people are missing and presumed dead under
the soupy mud. The Philippine Geosciences Bureau
estimates that the mud is four meters (13 feet)
deep and covers an area of approximately three
square kilometers (1.16 square miles).
WOCCU Senior Manager Curtis Slover has
coordinated a preliminary needs analysis with
VICTO, the Visayas Cooperative Training
Organization for savings and credit cooperatives.
Two disaster relief priorities were identified:
Together, these two projects will have a great
impact on the health of both the local credit
union and members' lives. WOCCU hopes to raise
$30,000 to fund both these initiatives.
- Educational accounts for 20 to 25
children/siblings who lost their parents, enabling
them to continue their schooling
- Capitalizing 100 revolving "Livelihood" loans,
enabling credit union members to start or continue
businesses so they can rebuild their lives and the
WOCCU has had ongoing activities with the
Philippine credit union movement, having carried
out technical assistance projects there since
1988. Current projects include a rural women's
savings and credit education program and a credit
union strengthening technical assistance program.
The Washington Credit Union League and Affiliates
leads a WOCCU International Partnership Program
with the Philippines credit union movement. There
are 378 credit unions and more than 700,000 credit
union members in the country.
To support the international credit union
relief fund and rebuilding of Philippine 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
Funds may also be wired. Contact Valerie Breunig,
608-231-7353, for wire instructions.
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.