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Sri Lankan fisherman Sebastian Lusion was able to repair his boat and continue providing for his family after getting a credit union loan. WOCCU says a bank loan was out of the question for Lusion, who sells his catch each day for cash and has no collateral or salary slips.

The World Council of Credit Unions is encouraging holiday gift givers to consider giving the gift of microloans.

Gifts in the form of $30 donations to the Worldwide Foundation for Credit Unions will help support farming and microbusiness loans to credit union members in Haiti, Sri Lanka, Ethiopia and Afghanistan, WOCCU said.

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