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November 14, 2013


Philippines Typhoon; Credit Unions, Members Affected

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MADISON, Wis. — In the wake of super typhoon Haiyan, one of the most powerful storms ever recorded, World Council of Credit Unions is in contact with local authorities in the Philippines and our Australian member, Customer Owned Banking Association, to assess how to best help the 4.5 million people affected.

According to reports, typhoon Haiyan has killed an estimated 10,000 people. The situation has the potential to worsen should displaced credit union members and others not receive necessary assistance. World Council has worked with Philippines credit unions since 1996 and the most recent project focused on model credit union building and institutional branding. According to World Council's 2012 Statistical Report, there are 1,320 credit unions in the Philippines serving 4.3 million members last year.

World Council has led relief and rebuilding efforts during past international disasters, including the January 2010 Haitian earthquake, February 2006 Philippine Islands landslide and December 2004 Asian tsunami. Following the Haitian earthquake, World Council led a $1.2 million dollar project to provide immediate relief, provide shelter and revitalize the country's credit union system. Following the 2006 Philippines landslide in Leyte, World Council supported the local league's administration of "livelihood loans," small microloans that helped credit union members and employees rebuild their homes and businesses.

World Council is now prepared to provide disaster relief to credit union staff and support credit union rebuilding efforts following this latest disaster. Much-needed cash contributions from credit unions and individuals will provide assistance to those whose lives have been devastated by this terrible disaster.

To support the international credit union disaster relief fund and rebuilding of Philippine credit unions, payments via check, credit card or wire may be sent to:

Worldwide Foundation for Credit Unions, Inc., 5710 Mineral Point Road, Madison, WI 53705, USA.

Individuals may make donations with a credit card online at www.woccu.org/give; credit unions may wire funds. For additional information, contact: Calyn Ostrowski, Director, Worldwide Foundation for Credit Unions, +1-608-395-2056 or via email at costrowski@woccu.org. Please indicate that your donation is designated for Philippine Disaster Relief Fund.



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 103 countries serve 208 million people. Learn more about World Council's impact around the world at www.woccu.org.

 



Contact: Rebecca Carpenter
Organization: World Council of Credit Unions
E-mail: rcarpenter@woccu.org
Phone: +1-608-395-2031
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