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 communications@woccu.org. To make a donation to to Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund, click here

2022-10-06

WOCCU, NCBA CLUSA and COOP Ukraine Meet with USAID to Discuss Role of Cooperatives

With cooperatives playing an important role in supporting the Ukrainian economy since Russia launched its full-scale invasion in February, World Council of Credit Unions' (WOCCU) and two other cooperative associations took part in an October 4 meeting with top USAID officials about the role they can further play in Ukraine's eventual recovery and reconstruction.

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2022-10-06

WOCCU CAP Project Chief of Party Illustrates Elevated Importance of Credit Unions in Wartime Ukraine at 2022 Cooperative IMPACT Conference

Lessons learned and changes made at the prompting of World Council’s Credit for Agriculture Producers (CAP) Project during the COVID-19 pandemic have helped Ukrainian credit unions adapt to the stress and challenges brought on by the country’s war with Russia. 

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2022-10-03

CAP Hosts First Face-to-Face Workshop for Credit Unions Since Start of War

World Council of Credit Unions' Credit for Agriculture Producers' (CAP) Project in September returned to providing in-person workshops for its partner credit unions for the first time since Russia's full-scale invasion of Ukraine began in February 2022. 

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2022-08-29

A Story of Credit Union Empowerment from Ukraine

The theme for International Credit Union Day 2022 is "Empower Your Financial Future with a Credit Union." 

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2022-08-23

Video Shows How Liquidity Fund Helped Ukrainian Farmer Grow Operation

A new video from World Council for Credit Unions' (WOCCU) Credit for Agriculture Producers' (CAP) Project tells the story of how Ms. Vira and her family are managing their dairy farm in Lviv Oblast since Russia’s full-scale war against Ukraine started.

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2022-08-16

First 100 Ukrainian Farmers Compensated Through WFCU Agricultural Loan Reimbursement Program

A $100,000 loan reimbursement program made possible by Worldwide Foundation for Credit Unions’ (WFCU) Ukrainian Credit Union Displacement Fund has already provided targeted aid to 100 farmers facing a food security crisis brought on by Russia’s full-scale war in Ukraine.  

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2022-08-10

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.

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2022-08-05

NBU: Most Credit Unions Scaled Back Q1 Operations Due to War

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.

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2022-08-01

Credit Union Member Farmers Provided with Free Vegetable Seeds

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.

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2022-07-18

WOCCU CAP Project Team Details Credit Union Bravery in Ukraine at World Credit Union Conference

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.

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2022-07-17

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.

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2022-07-08

WCUC Event: Ukraine's War and the Bravery of the Credit Union Movement

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.

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2022-06-30

NCUA Delivers Recommendations to National Bank of Ukraine (NBU) and Deposit Guarantee Fund (DGF)

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).

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2022-06-29

$100,000 Allocated to Reimburse Credit Union Member Farmers for Loans

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. 

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2022-06-15

Callsign "Bat"

“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.

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2022-06-09

Creating Value Chain Finance Options for Ukrainian Credit Unions

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. 

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2022-06-07

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.

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2022-05-31

CAP Project Provides Professional Psychological Support for Ukrainian Credit Union Employees

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.

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2022-05-25

CAP Project Makes Strides Despite War in Ukraine

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.

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2022-05-19

National Bank of Ukraine Governor Puts Physical Asset Losses at $100 Billion

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

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2022-05-19

In Ukraine, Credit Unions Are Key to a Sustainable Economic Recovery

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.

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2022-05-17

Ukrainian Credit Union Displacement Fund Nears $1.4 Million

Worldwide Foundation for Credit Unions (WFCU) has now raised $1.37 million for its Ukrainian Credit Union Displacement Fund.

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2022-05-10

Help for Ukraine Webinar Available for Viewing on YouTube

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.

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2022-05-06

CAP Project Protects Credit Union Data by Moving it Out of Ukraine

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.

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2022-05-03

WOCCU CEO Gives Firsthand Account of Meetings on Ukraine

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.

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2022-04-28

Help for Ukraine: A WOCCU and RCUC Virtual Event

As the Russian invasion of Ukraine continues to inflict needless suffering, death and destruction, credit unions in both conflict and non-conflict zones of the country are still striving to serve their members and communities.

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2022-04-25

Poland’s Largest Credit Union Offers Multiple Forms of Assistance to Ukrainian Refugees

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.

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2022-04-22

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.

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2022-04-21

36 Hours in Rzeszow: A Special Edition of the Global Credit Union Podcast

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.

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2022-04-18

WOCCU President/CEO to Visit with Ukrainian Credit Union Leaders in Poland

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.

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2022-04-13

Ukrainian Credit Union Displacement Fund Total Tops $1 Million

In just six weeks, Worldwide Foundation for Credit Unions (WFCU) has raised more than $1 million for its Ukrainian Credit Union Displacement Fund.

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2022-04-12

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.

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2022-04-07

Ukrainian Credit Unions Receive Extension on Deadline for Submitting Inspection Results

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.

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2022-04-05

Vizo Financial Raises $62,525 for Ukrainian Credit Union Displacement Fund

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.

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2022-04-05

UPDATE: Carolinas Credit Unions Raise $280,000 to Support Ukraine’s Credit Unions

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.

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2022-04-01

Ukrainian Credit Unions Use Digital Communication Tools to Help People Affected by War

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.

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2022-03-31

Romanian Credit Unions Take Individualized Approach to Ukrainian Refugee Situation

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.

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2022-03-29

Together with Partners, PARD Provides Shelter with Necessary Supplies

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. 

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2022-03-25

Credit Unions Play Central Role In Supporting Western Ukraine During Wartime

“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.

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2022-03-24

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.

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2022-03-23

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: 

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2022-03-22

Credit Unions Most Impacted by War Still Strive to Serve Members

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.

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2022-03-17

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.

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2022-03-16

Oregon Credit Union Community Rallies for Ukraine

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.

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2022-03-15

First Disbursement from Ukrainian Credit Union Displacement Fund Headed to PARD

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.

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2022-03-10

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.

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2022-03-09

Polish Credit Unions Step Up to Support Ukrainians

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.

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2022-03-04

World Council Member Association in Ukraine Describes Situation on the Ground

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.

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