America’s Credit Unions wrote to several House and Senate committees this week in support of international credit union priorities as Congress considers funding for the U.S. Agency for International Development (USAID). America’s Credit Unions is a member of the World Council of Credit Unions (WOCCU).
“We respectfully request that Congress authorize and appropriate funding for WOCCU’s efforts in the Ukraine region, Israel, and many other countries either through USAID’s Cooperative Development Program (CDP) funding or otherwise to specifically assist credit unions that are working to provide critical security and economic assistance to both regions,” wrote America’s Credit Unions President/CEO Jim Nussle. “We are writing in strong support of a fiscal year 2025 funding levels of $50 million for the CDP.”
CDP activities have supported over 500 cooperatives and credit unions in over 18 countries with a combined savings of $495 million.
Nussle also requested:
- $30 million to expand for the Credit for Agriculture Producers’ Technical Assistance Project to support Ukrainian credit unions; and
- $50 million to support the efforts of the countries surrounding Ukraine to support reintegration of Ukrainian displaced persons and refugees, enhance local economic stability and growth via investing in credit union financial services provision for agriculture, small business and vulnerable populations, and to mitigate global food insecurity through credit union supported agricultural lending across the region.
WOCCU also requested support for cooperatives in Israel, the West Bank, and Gaza that would fund housing, entrepreneurship, employment, and financial inclusion, including $10 million to address the needs of displaced Palestinians.
The letters were sent to House and Senate Appropriations, as well as House and Senate Foreign Relations Committees this week, as each had a hearing on FY2025 USAID funding.
