WFCU supports credit union digitisation in Ukraine

WFCU has implemented 11 relief and recovery programmes to support Ukraine’s credit unions

Two Ukrainian credit unions have received 26 laptops and 10 multifunctional printers through a project led by the Worldwide Foundation for Credit Unions (WFCU) with funding from Advantis Credit Union (US) and Dundalk Credit Union (Ireland).

The initiative forms part of the USAID/WOCCU Credit for Agriculture Producers (CAP) Project, which helped the PVKS and Anisiya credit unions in Ukraine fully migrate to a new core banking system to allow for API integration and improved credit union operations. 

The credit unions needed to update the hardware used by their staff to make the core banking system work at full capacity. As such, PVKS Credit Union bought 11 laptops with funds from Dundalk Credit Union, while Anisiya Credit Union purchased 25 laptops and 10 multifunctional printers thanks to Advantis Credit Union’s donation. 

“The funds received allowed our credit union to upgrade hardware, install new software and improve our digital capabilities,” said Anisiya CEO Volodymyr Sydorovskyy. “Now, we can serve our clients much faster and provide more modern and quality services. Thanks to your help, we feel that we are not alone in our challenging struggle for freedom and democracy.“

Through its Ukrainian Credit Union Displacement Fund, WFCU has implemented 11 relief and recovery programmes totalling US$1.64m to support Ukraine’s credit unions with expense reimbursement, digitalisation, extra liquidity for lending, as well as drinking water and power generators.

Earlier this month WFCU, also launched the Venerate Ukraine’s Veterans Program, aiming to raise $500,000 for a credit union lending scheme to support Ukrainian veterans and their families who are looking to start businesses. 

The initiative was launched through WFCU’s Project Storm Break initiative and in partnership with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project.

“This trip is profoundly emotional,” said WFCU president Mike Reuter, who was in Ukraine for the launch of the initiative. “Standing here, I feel the sheer magnitude of honouring the fallen soldiers and citizens, all in the protection of freedom and sovereignty of Ukraine. Visiting Ukraine truly highlights how critical the work of WFCU is to the credit union system and providing financial freedom to Ukrainians.”  

WFCU’s involvement in Ukraine preceded the country’s invasion by Russia. Under the Resilience Initiative, WFCU and the CAP Project provided over 100 loans worth more than $500,000 to underserved populations in rural communities. 

Donations to the Ukrainian Credit Union Displacement Fund can be made online.