CUNA and the World Council of Credit Union requested House and Senate appropriators urge the U.S. Agency for International Development (USAID) give high priority to credit union development, as required by existing law. The letter supports the inclusion of the proposed language in the report for the State, Foreign Operations and Related Programs Appropriations Act for fiscal year 2018.
“[World Council] and its credit union partners also promote democratic principles in the developing world and teaches self-reliance rather than reliance on state structures. This means that this ‘foreign aid’ actually gets to its intended recipients and also provides a net benefit to American taxpayers,” reads the letter, signed by CUNA President/CEO Jim Nussle and World Council President/CEO Brian Branch.
The language CUNA and the World Council would like included is the following:
“In order to promote private sector entrepreneurship, establish public-private partnerships fostering democratic civil society building and strengthen the participation of the rural and urban poor in their country's development, the Committee encourages USAID to give high priority pursuant to 22 U.S.C. § 2151i(2) to the promotion of national credit union systems through credit union-to-credit union technical assistance that strengthens the ability of low income people and micro-entrepreneurs to save and to have access to credit for their own economic advancement.”
The World Council receives partial funding through USAID programs to further its mission.
CUNA and the World Council will continue to push for funding as Congress moves forward in the appropriations process for fiscal year 2018.
Additional information, including links to both letters, can be found on CUNA’s Removing Barriers Blog.