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.
Guided by the call from leaders among its membership, the Carolinas Credit Union League in coordination with the Carolinas Credit Union Foundation on March 25 set a goal of raising $50,000 for the Ukrainian Credit Union Displacement Fund. The Carolinas Credit Union League, Carolinas Credit Union Foundation and credit union community in the Carolinas ended up raising $280,000 for the Fund.
The fund, established by Worldwide Foundation for Credit Unions (WFCU), directs support to mitigate the impact to Ukraine's credit union system and those that look to it for support, including both employees and members.
"Historically, when one of our global credit union communities is under crisis, the Carolinas' League, Foundation, and credit union community have stepped forward,” said WFCU Executive Director Mike Reuter. “It is no different with supporting Ukraine's credit union system and members during this war. Funding will be divided between immediate, short-term needs of current members and their credit unions, as well as holding a portion in reserve as plans are laid to help reconstruct Ukraine's credit union movement."
Early efforts to raise funds in the Carolinas were aided by Vizo Financial Corporate Credit Union, which launched its own fundraiser within the Ukrainian Credit Union Displacement Fund, with a promise to match donor contributions up to $25,000.
“The response by credit unions in North and South Carolina has been overwhelming,” shared League President/CEO Dan Schline. “We know there is great need in Ukraine and it’s terrific to see how credit unions in our two states and across the country have stepped forward to help.”
In the Carolinas, contributors to date include:
- Carolinas CU Foundation – $5,000
- Carolinas CU League – $5,000
- Allegacy FCU – $10,000
- Carolina Foothills FCU – $5,000
- Carolina Trust FCU – $3,000
- Carolinas Telco FCU – $5,000
- Charlotte Metro CU – $5,000
- Civic FCU – $10,000
- Coastal CU – $50,000
- Corning CU – $5,000
- CPM FCU - $5,000
- Founders FCU – $50,000
- Greensboro Municipal FCU $5,000
- Greenville FCU – $5,000
- HealthShare CU – $1,000
- Palmetto Citizens FCU – $5,000
- SAFE FCU – $5,000
- SC Federal Credit Union – $5,000
- SPC CU – $5,000
- Spero Financial FCU – $5,000
- State Employees' CU – $50,000
- Truliant FCU – $10,000
- Vizo Financial Corporate CU – $25,000
“Credit unions lead with their head and their heart and that is what makes our industry truly remarkable,” shared Carolinas Foundation President Lauren Whaley. “The generosity of credit unions in the Carolinas, coupled with donations from across the world, will assist our credit union friends in Ukraine at a time when it is most needed.”
As of April 5, Worldwide Foundation for Credit Unions has raised $852,000 for the Ukrainian Credit Union Displacement Fund.