The World Council of Credit Unions (Woccu) has announced that Elissa McCarter LaBorde is leaving her position as president and CEO.
Appointed to the role in 2021, McCarter LaBorde also oversaw the work of the Worldwide Foundation for Credit Unions (WFCU).
The past few months have been challenging for Woccu, with the organisation hit by the closure of USAID and the freeze of foreign aid funding. McCarter LaBorde confirmed to CU Times that the organisation was forced to lay off more than half of its employees.
In response, WFCU launched Rally the Movement, a campaign to raise emergency funds to bridge the gap to continue Woccu’s international development work. The initiative has so far raised almost US$1.2m toward a goal of $3m.
McCarter LaBorde will be replaced by Paul Treinen, who will serve as interim CEO of the organisation until the board appoints a permanent replacement.
Treinen served as Woccu’s chief operating officer and executive vice president until his retirement in 2023. In a release announcing the changes, Woccu said his “deep understanding of the organisation’s mission and operations positions him well to lead during this transitional period”.
Related: Credit unions asked to support Woccu’s international development work
“We thank Elissa for her years of service at an unprecedented time in Woccu’s history and celebrate the organisation’s success under her leadership,” said Woccu chair Michael Lawrence.
The release said Woccu was at a strategic crossroads, and this represented “an opportune time for the organisation to refocus on its core trade association activities and advocacy mission”.
The board says it is now looking for a strategic leader to build upon the organisation’s strong foundation and guide it into its next chapter.
“We are confident in Paul’s leadership and ability to ensure continuity during this time of change,” added Lawrence. “Woccu and WFCU remain focused on advancing the global credit union movement and delivering continued value to our members, partners and donors.”
“Under Paul’s leadership and direction, we are confident the work of the foundation will continue uninterrupted,” said Bill Cheney, chair of WFCU. “The WFCU board looks forward to working with Paul during this period of change and transition.”
Woccu holds its annual conference in Stockholm, Sweden, on 14-16 July.
This story was amended on 2 May to clarify that the Rally the Movement campaign was launched by WFCU, not Woccu.
