First Capital staff raise money for the Ukrainian Credit Union Displacement Fund. (Photo: First Capital FCU)
Credit unions, leagues and credit union-affiliated organizations continued to raise money for the Ukrainian Credit Union Displacement Fund as the bloody Russian invasion of the country entered its second month.
On Monday, the Carolinas Credit Union League announced a $280,000 donation to the Fund. The League, the Carolinas Credit Union Foundation and 23 other Carolinas-based credit unions raised the money, according to a statement. Initially, the League and Foundation had set a goal of raising $50,000.
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"Historically, when one of our global credit union communities is under crisis, the Carolinas League, its Foundation and credit union community have stepped forward," Worldwide Foundation for Credit Unions Executive Director Mike Reuter said. "It is no different with supporting Ukraine's credit union system and members during this war. Funding will be divided between immediate, short-term needs of current members and their credit unions as well as holding a portion in reserve as plans are laid to help reconstruct Ukraine's credit union movement."
The Ukrainian Credit Union Displacement Fund was launched on Feb. 27 by the Worldwide Foundation for Credit Unions, the charitable arm of WOCCU, in response to the Russian military attacking the country on Feb. 24.
According to reports, at least 24,000 people have died and 10 million citizens have been displaced since the beginning of the war.
On Tuesday, a spokesperson for WOCCU emailed CU Times stating that the Fund has raised $852,000 so far.
Other credit unions and organizations that have recently announced donations to the Ukrainian Credit Union Displacement Fund include:
- First Capital Federal Credit Union ($304 million, York, Pa.) donated $800.
- Chartway Federal Credit Union ($2.5 billion, Virginia Beach, Va.) donated $10,000.
- Eagle Community Credit Union ($329 million, Foothill Ranch, Calif.) donated $10,000.
- Southeastern Credit Union Foundation (Tallahassee, Fla.) donated $10,000.
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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.
