World Council of Credit Unions Condemns Russian Invasion of Ukraine
WOCCU to cease activities and engagements in Russia
March 04, 2022
MADISON, Wis.—World Council of Credit Unions, the international apex organization representing credit unions and financial cooperatives on six continents, on Friday released the following statement on behalf of its Board of Directors:
“World Council of Credit Unions (WOCCU) harshly condemns the Russian government’s decision to invade the independent and sovereign nation of Ukraine and use military force to cause massive devastation, death and displacement there. Worldwide Foundation for Credit Unions, our charitable and engagement arm, has mobilized the Ukrainian Credit Union Displacement Fund to provide financial support to mitigate both the short- and long-term impacts to Ukraine’s credit union system, its employees, and the members and communities it serves. WOCCU has also made the decision to suspend all engagements and activities with Russia across all its entities and initiatives.”
WOCCU’s declaration comes in the face of Russia’s increasingly aggressive and indiscriminate attacks on both government and civilian targets that have deepened the humanitarian crisis in Ukraine.
Worldwide Foundation for Credit Unions will soon be releasing an updated plan for the use of donations coming into its Ukrainian Credit Union Displacement Fund. To make an individual or institutional donation to the Displacement Fund, click here.
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 90 countries. Worldwide, 87,914 credit unions in 118 countries serve 393 million people. Learn more about World Council's impact around the world at www.woccu.org.