WOCCU Announces Hurricane Disaster Recovery Fund

Help Rebuild Caribbean's Credit Unions

Madison, WI—The Worldwide Foundation, the fundraising arm of the World Council of Credit Unions, Inc. (WOCCU) is issuing a call for donations to help rebuild Caribbean credit unions after the devastating path of recent hurricanes. Unlike many credit unions in developed countries, credit unions in these countries do not possess property insurance; therefore rebuilding is very difficult.

The request for assistance comes directly from the Caribbean Confederation of Credit Unions (CCCU). Melvin Edwards, CCCU delegate and World Council's 2nd vice chairman explains, "As you are aware, the Caribbean has received more than its share of hurricanes this year and is likely to suffer more. Most serious, however, is the situation in Grenada, where 90% of the housing and 100% of the agriculture were destroyed. There is a critical need for basic humanitarian aid to enable a fairly timely recovery of the Grenadine Society and Economy."

Hurricane Ivan is the most powerful storm to hit the Caribbean in the last decade. The storm devastated Grenada and the Bahamas, damaged homes in Barbados, Saint Lucia, Trinidad and Tobago and Saint Vincent and the Grenadines, before it continued its rampage on Jamaica and the Cayman Islands. Reports reaching World Council offices indicate that most credit union buildings are seriously damaged in Grenada; thankfully no reports of serious looting of credit unions have been received. Caribbean credit unions ask assistance from the international credit union system in whatever way possible.

Arthur Arnold, WOCCU president and CEO, shared, "As partners in the credit union movement, it is our responsibility to lend a hand in troubled times, when credit unions are in need. World Council is proud to be able to act as a gateway for relief donations, which will be sent directly to rebuild these credit union systems."

To contribute to the hurricane disaster relief for Grenada and other parts of the Caribbean, send donations payable to the Worldwide Foundation to the World Council of Credit Unions, Attention Disaster Relief Fund, 5710 Mineral Point Road, Madison, WI 53705. If you have questions regarding the fund, please contact Kimberly Johnston, marketing & communications manager at 608.231.7904 or kjohnston@woccu.org or David Grace, senior trade association manager at 608.231.8494 or dgrace@woccu.org

El Consejo Mundial de Cooperativas de Ahorro y Crédito es la asociación gremial y agencia de desarrollo para el sistema internacional de cooperativas de ahorro y crédito. El Consejo Mundial promueve el crecimiento sustentable de las cooperativas de ahorro y crédito y otras cooperativas financieras en todo el mundo a fin de facultar a las personas para que mejoren su calidad de vida a través del acceso a servicios financieros asequibles y de alta calidad. El Consejo Mundial realiza esfuerzos de defensa activa en representación del sistema global de las cooperativas de ahorro y crédito ante organizaciones internacionales y trabaja con gobiernos nacionales para mejorar la legislación y la regulación. Sus programas de asistencia técnica introducen nuevas herramientas y tecnologías para fortalecer el desempeño financiero de las cooperativas de ahorro y crédito y profundizar su alcance comunitario.

El Consejo Mundial ha implementado 290 programas de asistencia técnica en 71 países. A nivel mundial, 51,000 cooperativas de ahorro y crédito en 100 países atienden a 196 millones de personas. Obtenga más información sobre el impacto global del Consejo Mundial en www.woccu.org.