In 2025, the global credit union movement faces unprecedented challenges due to significant reductions in international aid, notably the termination of several USAID-funded projects. These cutbacks have directly impacted World Council of Credit Unions’ (WOCCU) development initiatives in Ukraine, Guatemala and Kenya. As Board Chair of the Worldwide Foundation for Credit Unions (WFCU), WOCCU’s strategic partner, and President and CEO of SchoolsFirst Federal Credit Union, I have witnessed firsthand the transformative power of international credit union development. It is imperative that U.S. credit unions recognize the importance of supporting this vital work, not only as a moral obligation but also as a strategic investment in the resilience and prosperity of our domestic institutions.
Ripple effect of global development
The interconnectedness of today's financial systems means that challenges faced by credit unions abroad can have far-reaching implications. By supporting international development, U.S. credit unions help build robust financial cooperatives worldwide, fostering economic stability and creating potential partnerships that can lead to shared innovations and best practices. Moreover, a strong global credit union network acts as a buffer against global financial crises, indirectly safeguarding U.S. institutions.
Personal insights from the field
Throughout my career, I have had the privilege of engaging with leaders across the globe to discuss the key role credit unions play in driving financial inclusion and economic resilience. These experiences have reinforced the importance of WOCCU’s initiatives and highlighted how credit unions empower entrepreneurs, foster community development and implement innovative financial solutions. Over the years, I’ve observed firsthand how these efforts have evolved, offering valuable insights on member engagement and technological adaptation that credit unions worldwide can learn from and apply within their own communities.
In Guatemala, credit unions play a crucial role in providing financial services to underserved populations, promoting economic inclusion, and reducing poverty. In Ukraine, especially given the recent geopolitical tensions, credit unions have been instrumental in offering financial stability to communities amid uncertainty.
Call to support
The cessation of USAID funding has halted these vital programs, undermining years of progress and leaving communities vulnerable. U.S. credit unions, founded on principles of cooperation and mutual aid, are in a unique position to step in and fill this void. By contributing to WFCU’s Rally the Movement campaign, we can ensure the continuation of essential development work in these regions.
Why this matters to U.S. credit unions
- Shared learning and innovation: Engaging with international credit unions exposes U.S. institutions to diverse challenges and solutions, fostering innovation and adaptability.
- Strengthened global network: A robust international credit union system enhances global financial stability, which can have positive effects for U.S. markets.
- Reaffirmation of core values: Supporting global initiatives reinforces the foundational cooperative principles of credit unions, showcasing a commitment to social responsibility and community development.
Collective responsibility
The global credit union movement is a testament to what can be achieved when communities unite for a common purpose. The challenges faced by our counterparts in Ukraine, Guatemala and Kenya are not isolated issues but are part of a larger narrative that affects us all. By extending our support, we not only uphold the dignity and resilience of these communities but also enrich our own understanding and capacity to serve.
In conclusion, I urge all U.S. credit unions to reflect on the broader impact of our collective actions. Let us come together to support the Worldwide Foundation for Credit Unions, ensuring that the invaluable work of WOCCU continues unabated. Our solidarity today will pave the way for a more inclusive and resilient global credit union community tomorrow.
Let’s Rally the Movement! Contribute today at www.DoGlobalGood.org/rally.
