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The Freeze on Foreign Aid Has Major Consequences for the U.S. Credit Union System

Now is the time to speak out, engage policymakers and defend the role of credit unions in the global financial system.

By Elissa McCarter LaBorde | February 05, 2025 at 03:00 PM
Credit/AdobeStock

You have likely seen in the last 48 hours the now shuttered offices of the U.S. Agency for International Development (USAID), an independent federal agency authorized and funded by Congress, and news of U.S. Secretary of State Marco Rubio’s subsequent declaration that he is now USAID’s acting administrator. 

But for World Council of Credit Unions (WOCCU) and the U.S. credit union system’s connection to the wider global credit union movement, the gravity of what’s been taking place with the near blanket freeze on all foreign aid has been hitting home for well over a week.  

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