CUNA and World Council of Credit Unions (WOCCU) urge the Cooperative Development Program (CDP) to increase its 2023 fiscal year funding to $50 million in letter sent to House and Senate State, Foreign Operations, and Related Programs Subcommittees. The CDP has been a main source of WOCCU’s funding.
“CUNA and WOCCU further urge Congress, either through the CDP program or otherwise, to support our efforts in assisting credit unions in Ukraine. WOCCU is providing technical assistance to credit unions in Ukraine and is committed to providing long-term relief and rebuilding Ukraine’s credit unions and financial infrastructure,” the letter reads.
Since the start of the war in Ukraine, WOCCU has provided over $1 million in aid to Ukraine and its credit unions through the Ukrainian Credit Union Displacement Fund.
Continued support and increased CDP funding will further credit unions’ vital role in the rehabilitation of Ukraine, provide more crises support and help restore Ukraine’s economy.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
