MADISON, Wis. — In the wake of the devastating 7.9-magnitude earthquake that struck the poor Himalayan nation of Nepal over the weekend, the World Council of Credit Unions (WOCCU) is gearing up a fundraising campaign to aid credit unions in the region.
WOCCU said it is communicating with the Nepal Federation of Savings & Credit Cooperative Unions (NEFSCUN) and Association of Asian Confederation Credit Unions (ACCU) to help bring relief to staff and members of Nepalese credit unions, locally known as Savings and Credit Cooperative Societies (SACCOs).
The World Council noted that the earthquake impacted 30 out of 75 districts in Nepal, including densely populated cities, dispersed rural communities and mountainous areas, triggering deadly avalanches in the Himalayas including Mount Everest.
"Credit unions from around the world have expressed the desire to help our Nepalese colleagues affected by the earthquake," said WOCCU CEO Brian Branch in a statement. "As we have seen so many times in the past, part of what makes us a global community is our commitment to help each other in times of need."
NEFSCUN is reporting massive damage to financial institutions and member properties in Nepal; severely impacting the ability to access services during this critical time, the World Council added. Cash contributions from the global credit union community will rehabilitate damaged SACCOs and benefit member lives, the group stated.
Since 1993, WOCCU has worked with ACCU to bring credit union "best practices" to Nepal. Last week, the organization's Global Women's Leadership Network started the South Asian country's first local Network chapter, called a "Sister Society," to advance the professional growth of credit union women in the region.
"Credit unions play a major role in providing access to finance in the most remote regions of Nepal, giving members a safe haven for savings and loans for education, health care, alternative energy and increased agricultural production," said Peter Graves, World Council vice president of technical services. "Our thoughts go out to all Nepalese and others living in Nepal, including credit union members, negatively impacted by this past weekend's earthquake. World Council will support Nepalese credit unions' efforts to rebuild after an initial assessment has been undertaken."
To support the rehabilitation of Nepalese credit unions, contributions can be made via check, credit card or wire. Send to: Worldwide Foundation for Credit Unions, Inc. 5710 Mineral Point Road, Madison, WI 53705.
Donations can also be made online at:
