State Employees’ Credit Union Gifts $125,000 to Project Storm Break
Generous donation pushes fund past $348,000, with work underway to repair and rebuild Bahamian credit unions
October 10, 2019
MADISON, Wis—State Employees’ Credit Union (SECU), based in Raleigh, North Carolina, made an overwhelming donation of $125,000 to Worldwide Foundation for Credit Unions to support Project Storm Break—exceeding expectations for the disaster relief fund helping credit unions in The Bahamas recover from of Hurricane Dorian.
The generous gift from SECU accounts for more than one-third of the $348,000 in donations made to Project Storm Break to date.
“State Employees’ Credit Union members and Board understand the life-changing impacts of hurricanes and realize the terrible harms which have been wrought on the good folks of The Bahamas. We hope this donation will help them put their lives back together through the support of their local credit unions,” said Mike Lord, President and CEO of SECU. “We know that World Council of Credit Unions and Worldwide Foundation for Credit Unions do much good in the world and we support your efforts.”
Project Storm Break funds have already been distributed to help four credit unions restore infrastructure and replace equipment at branch locations on Grand Bahama—one of the island’s hit hardest by Dorian.
Worldwide Foundation is working with the Caribbean Confederation of Credit Unions (CCCU) to get those funds to credit unions in need.
Public Workers Co-operative and National Workers Co-operative were the first Bahamian credit unions to receive rebuilding and restoration funds available through Project Storm Break in early October.
Project Storm Break funds are now being distributed to help Grand Bahama Co-operative Credit Union (GBCCU) and Bahamas Law Enforcement Credit Union (BLECU) repair infrastructure and replace equipment.
“The generosity of Mike and his team at SECU is truly remarkable. We are so grateful to them and all our Champions helping credit unions in The Bahamas rebuild,” said Mike Reuter, Executive Director of Worldwide Foundation for Credit Unions.
“Developed as a forward-prepared fund, Project Storm Break has allowed us to provide funds earlier than in past disaster relief efforts. This allows credit unions to begin restoration and repair work before the price of materials skyrocket and local contractors are tied up with other work—as we saw in Puerto Rico and Dominica after Hurricane Maria,” said Brian Branch, World Council President and CEO.
Worldwide Foundation for Credit Unions continues to accept applications from credit unions seeking rebuilding and restoration funds available through Project Storm Break.
World Council of Credit Unions is the global trade association and development platform 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 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.