The United Nations is undertaking a process to develop a set of sustainable development goals that will be used to target international development assistance during the post-Millennium Development Goal period of 2015–2030.
The World Council of Credit Unions said it is promoting the idea that financial inclusion will be among those goals.
Earlier this month, at separate U.N. events in New York City and Washington, D.C., Peter Graves, World Council's SVP of technical services, cited credit union development in high-income countries, including the U.S., Canada and Australia, to show how credit unions have helped generate greater income growth and job creation across a broader spectrum of the population than in societies without them.
He explained how income growth and job creation has led to decreased poverty, reduced malnutrition, better health and education outcomes, and greater gender equality, all universal goals to incorporate in the SDGs.
"By providing low-cost access to savings and credit, credit unions can help solve at least five to six of the most intractable global issues we see today," Graves said. "Through our experience, we know that providing people the means to save, financial literacy and expanded loan products, has impact across all aspects of an individual's and family's life, including income, education, food and health."
World Council President/CEO Brian Branch agreed.
"Credit unions are all about financial inclusion for all citizens, including the underserved, unserved and the most vulnerable," he said.
The U.N. will continue a consultative process with a wide variety of external stakeholders through next year when the General Assembly will adopt the SDGs in September 2015.
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