Elissa McCarter LaBorde delivers her State of the Movement address. Credit/WOCCU
The World Council of Credit Unions (WOCCU) announced Tuesday that President/CEO Elissa McCarter LaBorde has stepped down, marking a significant leadership transition during one of the most turbulent periods in the organization’s history.
“We thank Elissa for her years of service at an unprecedented time in WOCCU's history and celebrate the organization's success under her leadership,” said Michael Lawrence, chair of the WOCCU Board of Directors.
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McCarter LaBorde’s departure follows months of financial and operational upheaval at WOCCU, which was severely impacted by President Trump’s January 2025 executive order freezing foreign aid funding. As a result, USAID issued stop-work orders for three major WOCCU projects in Ukraine, Peru, Ecuador, Guatemala, Kenya, and other countries, halting millions in development aid.
In a February email to CU Times, McCarter LaBorde confirmed that WOCCU was forced to lay off more than half of its employees, primarily those stationed in field offices. “We had to let go a significant number of our field-based staff, and furlough or move part time some U.S.-based staff,” she said. “All together it is over half our total employees that have been impacted, unfortunately.”
WOCCU had relied heavily on USAID support, with $7.57 million of its $7.66 million in 2023 development grant revenue coming from the agency. McCarter LaBorde issued multiple public pleas for support, warning, “If WOCCU is no longer able to strengthen the global credit union system with the help of U.S. Government funding, the U.S. credit union system will never be quite the same.”
The WOCCU Board appointed former COO Paul Treinen as interim CEO. “We are confident in Paul's leadership and ability to ensure continuity during this time of change,” said Lawrence. Bill Cheney, chair of the Worldwide Foundation for Credit Unions, echoed the support.
A statement from America's Credit Unions President/CEO Jim Nussle said, "Thank you to Elissa McCarter LaBorde for her contributions to WOCCU. We recognize and appreciate the dedication she brought to the credit union movement and wish her all the best in the next chapter. Having worked with Paul Treinen previously, we know he brings deep industry knowledge to WOCCU. World Council plays a vital role in strengthening financial inclusion and empowering communities worldwide. As a member of WOCCU, America’s Credit Unions continues to fully support their mission and impactful work."
According to a WOCCU spokesperson, Treinen began the interim position on Tuesday.
As WOCCU regroups, the Board has initiated a global search for a permanent CEO. Meanwhile, its advocacy, education efforts, and the 2025 World Credit Union Conference in Stockholm remain on track.
WOCCU continues to push forward with its “Rally the Movement” campaign to sustain international projects and reaffirm its commitment to global financial inclusion.
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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.
