Credit Union Member Farmers in Ukraine Receive Free Fuel Through Worldwide Foundation for Credit Unions’ Program

MADISON, Wis.—More than 17,000 gallons of diesel fuel is being distributed to credit union member farmers in Ukraine free of charge, as part of Worldwide Foundation for Credit Unions’ (WFCU) ongoing relief activities there.  

Fuel remains in scarce supply in Ukraine due to Russia’s continued aggression, which means the price of diesel also continues to increase. Under the Fuel Disbursement Program, WFCU tapped its Ukrainian Credit Union Displacement Fund to purchase $100,000 worth of diesel from Ukrainian national fuel station chain OKKO, and provided a total of 1,329 free fuel coupons to Ukrainian small- and medium-sized farmers who took out agricultural loans at credit unions that partner with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project.

163 farmers with loans through 15 CAP-associated credit unions in Ukraine were able to access the coupons, allowing them to get the fuel just in time to sow their winter crops. Those farmers are responsible for taking out 30% of all agricultural loans issued by Ukrainian credit unions since the start of the full-scale Russian invasion on February 24.

“In these difficult times for our country, even under Russia’s constant shelling, Ukrainian farmers continue to operate and care about our food security. As credit unions, we are happy we can support them, not only through the needed finance, but also—thanks to our international partners and friends—to ensure they have diesel for the autumn harvest season,” said Mr. Volodymyr, CEO of Credit Union Anisia, who provided diesel fuel coupons to 27 member farmers.

The Fuel Disbursement program is the second of two relief initiatives designed to help credit union member farmers in Ukraine by utilizing WFCU’s Ukrainian Credit Union Displacement Fund.

Through an account set up in collaboration with Ridnia, a Ukrainian NGO, another $100,000 grant was disbursed in June to reimburse eligible CAP-partner credit union member farmers on 10% of their agricultural loan principal payments. To date, $50,000 has been distributed from that account to repay 10% of the loan principal for 615 member farmers.    

WFCU in March awarded a $50,000 Displacement Fund grant to the Podolian Agency for Regional Development (PARD), a Ukrainian non-governmental organization that is providing humanitarian assistance to hundreds of refugees from Kyiv, Kharkiv, Mariupol, Kherson, Melitopol and other cities who are seeking refuge in the Vinnytsia region of western Ukraine. PARD used part of the WFCU grant to assemble a temporary shelter, and is also working to purchase and deliver food, water, medicine, bedding and other supplies to internally displaced Ukrainians.  

To donate to the Ukrainian Credit Union Displacement Fund, click here.

The Worldwide Foundation is the fundraising and engagement arm of the World Council. Join us on a global journey to transform a billion lives worldwide using credit unions. Visit www.doglobalgood.org to start your journey today.

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 300+ programas de asistencia técnica en 90 países. A nivel mundial, 82,758 cooperativas de ahorro y crédito en 97 países atienden a 404 million de personas. Obtenga más información sobre el impacto global del Consejo Mundial en www.woccu.org.