European Union and Ukraine flags. (Source: AdobeStock)
On behalf of its Board of Directors, World Council of Credit Unions on Friday released a statement condemning Russia's military aggressions in Ukraine
"World Council of Credit Unions (WOCCU) harshly condemns the Russian government's decision to invade the independent and sovereign nation of Ukraine and use military force to cause massive devastation, death and displacement there. Worldwide Foundation for Credit Unions, our charitable and engagement arm, has mobilized the Ukrainian Credit Union Displacement Fund to provide financial support to mitigate both the short- and long-term impacts to Ukraine's credit union system, its employees, and the members and communities it serves. WOCCU has also made the decision to suspend all engagements and activities with Russia across all its entities and initiatives."
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According to a spokesperson for WOCCU, President/CEO Elissa McCarter LaBorde and Senior Vice President of International Advocacy Andrew Price were scheduled speak this month via Zoom during the Russian Credit Union Leagues Annual Conference taking place in Moscow. LaBorde and Price will no longer be attending.
Elissa McCarter LaBorde A WOCCU spokesperson also informed CU Times that "an all-expense paid trip to the 2022 World Credit Union Conference in Glasgow for a 2021 World Council's Young Credit Union Professionals (WYCUP) scholarship winner from Russia is being rescinded." CU Times has not been able to verify the name of the scholarship winner or details of how they won the scholarship.
In Friday's statement from WOCCU, the condemnation and engagement suspensions are a direct result of "Russia's increasingly aggressive and indiscriminate attacks on both government and civilian targets that have deepened the humanitarian crisis in Ukraine."
Last week, the Worldwide Foundation for Credit Unions (WFCU) announced it creation of the Ukrainian Credit Union Displacement Fund to help mitigate impacts to the Ukrainian credit union system during the Russian military actions happening around the country.
According to WOCCU, WFCU will soon release an "updated plan for the use of donations coming into its Ukrainian Credit Union Displacement Fund."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
