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September 21, 2004


WOCCU Announces Hurricane Disaster Recovery Fund

Help Rebuild Caribbean's Credit Unions

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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



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.

 



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