By [email protected]

WOCCU to cease activities and engagements in Russia

World Council of Credit Unions, the international apex organization representing credit unions and financial cooperatives on six continents, on Friday released the following statement on behalf of its Board of Directors: 

“World Council of Credit Unions (WOCCU) harshly condemns the Russian government’s decision to invade the independent and sovereign nation of Ukraine and use military force to cause massive devastation, death and displacement there. Worldwide Foundation for Credit Unions, our charitable and engagement arm, has mobilized the Ukrainian Credit Union Displacement Fund to provide financial support to mitigate both the short- and long-term impacts to Ukraine’s credit union system, its employees, and the members and communities it serves. WOCCU has also made the decision to suspend all engagements and activities with Russia across all its entities and initiatives.” 

WOCCU’s declaration comes in the face of Russia’s increasingly aggressive and indiscriminate attacks on both government and civilian targets that have deepened the humanitarian crisis in Ukraine.  

Worldwide Foundation for Credit Unions will soon be releasing an updated plan for the use of donations coming into its Ukrainian Credit Union Displacement Fund.