Credit Union Anisia CEO (left) presenting fuel coupons to a member farmer (Image: WFCU).
As the invasion by Russian forces continues in Ukraine, fuel has become a scarcity for farmers and has become even more of a concern as the price for diesel continues to rise.
To offer some help, the Worldwide Foundation for Credit Unions tapped into its Ukrainian Credit Union Displacement Fund to buy $100,000 worth of fuel to donate to credit union member farmers last week.
According to a statement from WOCCU, WFCU purchased more than 17,000 gallons of fuel from OKKO, a Ukrainian national fuel station chain and provided more than 1,300 free fuel coupons "to Ukrainian small- and medium-sized farmers who took out agricultural loans at credit unions that partner with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project."
More than 160 farmers with loans through CAP-associated credit unions in Ukraine were able to receive the coupons "allowing them to get the fuel just in time to sow their winter crops," the statement read.
Credit Union Anisia CEO presents fuel coupons to a member farmer (Image: WFCU). "In these difficult times for our country, even under Russia's constant shelling, Ukrainian farmers continue to operate and care about our food security. As credit unions, we are happy we can support them, not only through the needed finance, but also—thanks to our international partners and friends—to ensure they have diesel for the autumn harvest season," said Volodymyr Sydorovsky, CEO of Credit Union Anisia, who provided diesel fuel coupons to 27 member farmers.
The Fuel Disbursement program is the second of two relief initiatives designed to help credit union member farmers in Ukraine through WFCU's Ukrainian Credit Union Displacement Fund.
Another $100,000 grant was distributed in June to reimburse eligible CAP-partner credit union member farmers on 10% of their agricultural loan principal payments.
WFCU set up the Ukrainian Credit Union Displacement Fund during the CUNA GAC earlier this year, days after the Russian invasion began.
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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.
