Ukrainian Crisis Response
Stay updated on the state of
Ukraine's credit union system
World Council created this page as a resource for the latest news and information about how credit unions in Ukraine are faring in the face of the Russian invasion, and how the worldwide credit union movement is responding to help them. All of the content is provided by World Council, its members, or their affiliated credit unions and financial cooperatives. To share information from your organization on this page, please email us at firstname.lastname@example.org. To make a donation to to Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund, click here.
Banking Beyond Borders: How an Australian Credit Cooperative is Supporting Ukrainians Displaced by War
Ivanna Bernyk immigrated to Australia from Ukraine 25 years ago, joining the Ukrainian Credit Co-operative, Dnister, as a teller in 2000. Ivanna is now the Credit Co-operative’s Lending and Member Services Executive and says working more than 20 years at the organization was a simple decision thanks to the amazing team, who feel like an extended family.Read More
According to the National Bank of Ukraine's (NBUs) latest Non-Bank Financial Sector Review, most of the country's credit unions scaled back their operations in the first quarter (Q1) of 2022 due to Russia's full-scale invasion and the subsequent war that continues today.Read More
The war launched by Russia against Ukraine has impacted small agricultural producers across the country. In addition to the overall uncertainty about the future, supply chains have been greatly disrupted—slowing down or stalling normal agricultural processes.Read More
The 2022 World Credit Union Conference on July 18 featured a joint presentation by Worldwide Foundation for Credit Unions and the WOCCU Credit for Agriculture Producers’ (CAP) Project on the bravery being exhibited by credit union professionals in Ukraine who are dealing with Russia’s continued assault on their country.Read More
National Bank of Ukraine Deputy Governor Addresses 2022 World Credit Union Conference Opening Ceremony
GLASGOW, Scotland—A top official from Ukraine’s financial regulatory authority told industry professionals attending the opening ceremony of the 2022 World Credit Union Conference Sunday that Russia’s war against Ukraine has delivered a serious setback to the country’s credit unions.Read More
Attendees of the 2022 World Credit Union Conference in Glasgow, Scotland will have the opportunity to see a very special presentation: Ukraine's War and the Bravery of the Credit Union Movement.Read More
Representatives of the National Credit Union Administration (NCUA), the United States' credit union regulatory agency, conducted two June briefings on how to charter, regulate and supervise credit unions, implement support programs for small credit unions and build a deposit insurance system for representatives of the National Bank of Ukraine (NBU) and Ukraine's Deposit Guarantee Fund (DGF).Read More
Utilizing an account set up in collaboration with Ridynia, a Ukrainian NGO, a $100,000 grant from Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund will go to reimburse nearly 600 farmers on 10% of their agricultural loan principal payments.Read More
“We all have a unique chance to get rid of Russian-Soviet colonial influence once and for all and build an open, European democracy, with developed social institutions, strong market economy and equal non-discriminatory opportunities for all people living in its territories. We also have the chance to show the real Ukraine and Ukrainians to the world, honest, kind, hard-working, free and with unbroken spirit - the complete opposite of how Russian propaganda tries to portray us,” explains “Bat,” a Ukrainian military officer.Read More
World Council's Credit for Agriculture Producers (CAP) Project in May completed the first phase of an initiative to connect credit unions with select value chains, despite a temporary disruption in activities caused by the Russian invasion of Ukraine.Read More
USAID Ukraine Highlights Success of Joint Liquidity Fund with Worldwide Foundation for Credit Unions
Russia’s brutal invasion of Ukraine has created severe hardships for the country’s farmers, but they remain resilient and determined to deliver this year’s harvest.Read More
78 Ukrainian credit union professionals on May 18-19 participated in online meetings with a professional psychologist that were set up by World Council of Credit Unions' Credit for Agriculture Producers (CAP) Project, a USAID-funded activity.Read More
Despite the Russian invasion of Ukraine starting on February 24, World Council of Credit Unions’ Credit for Agriculture for Producers’ (CAP) Project still managed to make strides during the second quarter of Fiscal Year 2022 (January through March), while putting some other activities on hold due to the ongoing war.Read More
That's what Elissa McCarter LaBorde, President and CEO of World Council of Credit Unions, writes about in a new blog post for FinDev Gateway, an independent knowledge platform from Consultative Group to Assist the Poor (CGAP), where the global financial inclusion community comes together to share the latest research, lessons and ideas on making financial services work for poor people.Read More
In an interview with The Asahi Shimbun (Japan), National Bank of Ukraine (NBU) Governor Kyrylo Shevchenko talks about the Ukrainian banking sector conditions as the war drags on, the economic fallout from Russian aggression, the NBU’s actions to ensure financial stability, and international support.
Worldwide Foundation for Credit Unions (WFCU) has now raised $1.37 million for its Ukrainian Credit Union Displacement Fund.Read More
World Council of Credit Unions (WOCCU) and the Regional Credit Union Center (RCUC) for Central and Eastern Europe held a joint May 10 virtual event designed to share information about the realities on the ground that credit unions and their members in Ukraine are facing.Read More
Russia’s invasion of Ukraine and the ensuing destruction of infrastructure in some areas has elevated the material risks for credit unions, including the irretrievable loss of critical databases.Read More
World Council President and CEO Elissa McCarter LaBorde wrote a firsthand account of her April 20-22 meetings in Poland on the challenges facing Ukrainian credit unions and their members for CUInsight.com.Read More
The largest credit union in Poland is spending its time and money to provide all Ukrainian refugees in the country with easier access to its financial products and services, while assisting some with free housing and schooling as well.Read More
Ukrainian Consul General to Gdansk Outlines Cost of Russian Invasion and Needs of Agricultural Sector in Meeting with World Council
Russia's invasion of Ukraine has forced 18% of Ukraine's economy to completely shut down, resulting in a national loss of more than US $600 billion to date.Read More
World Council of Credit Unions' (WOCCU) President and CEO Elissa McCarter LaBorde and members of the WOCCU Credit for Agriculture Producers (CAP) Project visited Rzeszow, Poland on April 19 and 20 to hold a series of meetings aimed at exploring ways they can help provide further assistance in Ukraine, where credit unions, their employees and members continue to deal with the tragic consequences of the Russian invasion.Read More
World Council of Credit Unions (WOCCU) President and CEO Elissa McCarter LaBorde is visiting Poland this week to meet with Ukrainian and Polish credit union leaders about the short- and long-term challenges they face due to Russia’s invasion of Ukraine.Read More
In just six weeks, Worldwide Foundation for Credit Unions (WFCU) has raised more than $1 million for its Ukrainian Credit Union Displacement Fund.Read More
Credit Unions in Ukraine Receive Funding from USAID and Worldwide Foundation for Agricultural Lending
USAID and Worldwide Foundation for Credit Unions released the second and final disbursement from a $1 million liquidity fund to help partner credit unions affiliated with World Council of Credit Unions’ (WOCCU) Credit for Agriculture Producers (CAP) Project resume agricultural lending and support food security in wartime Ukraine.Read More
Due to martial law, the National Bank of Ukraine (NBU) on March 31 extended deadlines that credit unions and other non-bank financial institutions face for reporting on any follow-up measures recommended to them during inspections of their institutions over the course of 2022.Read More
Greensboro, N.C. – Vizo Financial Corporate Credit Union was ready and willing to join the Worldwide Foundation of Credit Union’s fundraising efforts for the Ukrainian Credit Union Displacement Fund. In doing so, the corporate credit union raised $62,525 in support of war-torn Ukraine over a period of just four weeks.Read More
People helping people is a philosophy intrinsic to the credit union movement, and an action most notably on display in recent weeks as credit unions in the Carolinas and across the globe come together to support Ukrainian credit unions.Read More
The Russian invasion of Ukraine has not only brought suffering to the Ukrainian people, it has also disrupted previously functional communication and transportation channels. In the new reality of wartime Ukraine, digital channels are playing a key role in connecting people and ensuring access to necessities and humanitarian help.Read More
The Russian invasion of Ukraine started a constant wave of Ukrainian residents fleeing for neighboring countries. To date, more than four million Ukrainians have fled and are now refugees.Read More
The following post was written by the Podolian Agency for Regional Development (PARD), a humanitarian aid group providing assistance to internally displaced people in the Vinnytsia region of Ukraine.Read More
“Credit unions have always been more than just financial institutions. We care about people, not money. In these difficult times for our country, we are all doing our best to help each other and our members" - a leader of the Ukrainian credit union movement.Read More
National Bank of Ukraine: Credit Union Loan Payments Missed Due to Martial Law Need Not Be Considered Overdue
The National Bank of Ukraine (NBU) on March 23 adopted a resolution that included a proposal advocated for by World Council of Credit Unions on the issue of managing the problem debts of credit union members during the current crisis.Read More
Worldwide Foundation for Credit Unions Salutes Major Donors to the Ukrainian Credit Union Displacement Fund
Worldwide Foundation for Credit Unions announced March 23 that nearly 20 organizations in the credit union sector had donated or pledged sums of at least $10,000 to its Ukrainian Credit Union Displacement Fund. Those include:Read More
In light of the Russian invasion, some credit unions in the hardest-hit areas of Ukraine have lost their offices, while many others have had to close offices and suspend in-person operations.Read More
Ukrainian Credit Union Liaison Discusses Impacts of the Russian Invasion on Episode 11 of The Global Credit Union Podcast
A liaison to Ukraine's credit union movement says there is a presumption that some individual credit unions have been severely damaged or destroyed by Russia's armed forces on Episode 11 of the Global Credit Union Podcast.Read More
It’s hard to believe just last summer, there was relative peace in Ukraine, and peace in the hearts of Olena Sheremetyeva’s family. Times were so good, Olena left her Salem, Oregon home with her seven-year-old son Nicholas for a memorable trip to visit his grandparents in Kyiv.Read More
Worldwide Foundation for Credit Unions, the charitable and engagement arm of World Council for Credit Unions, will disburse the first $50,000 from its Ukrainian Credit Union Displacement Fund 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.
National Bank of Ukraine Applauds Efforts of International Partners to Support Ukrainian Credit Unions
The following post was written by the National Bank of Ukraine (NBU), which serves as the country's central bank.
The USAID Credit for Agriculture Producers' Technical Assistance Project in Ukraine (hereinafter – the CAP Project), implemented by World Council of Credit Unions (WOCCU), has actively joined the National Bank’s efforts to support Ukrainian credit unions.
The National Association of Cooperative Savings and Credit Unions (NACSCU), World Council’s direct member association in Poland, has wasted no time in coordinating efforts to assist Ukrainians in need in both countries.Read More
The following update is provided by Lyudmila Kravchenko, Vice President of the Ukrainian National Association of Savings and Credit Unions (UNASCU).
Even in these conditions, the credit unions of Ukraine continue to work and the United Credit Union (UCU) of UNASCU continues lending. In particular, on Monday and Tuesday we issued another two loans under the Worldwide Foundation for Credit Unions' Liquidity Fund.