As a result, WOCCU has suspended work on:   

The USAID GROW Program in Ukraine. A program that serves entrepreneurs, micro, medium and small enterprises (MSMEs), cooperatives and farmers in the rural areas of Ukraine. GROW provides critical liquidity funds for credit unions during the high agricultural season. The ripple effects of the freeze extend far beyond Ukraine’s borders as the country is central to the global food chain.

The USAID Economic Program in Peru and Ecuador. An initiative that stimulates credit union lending and savings to Venezuelan migrants and refugees and allows them to integrate into their local economies, thereby stemming their migration to the U.S. For example, Venezuelan migrants enrolled in the project are earning more than double compared to their Venezuelan peers not enrolled in the project, with young Venezuelan adults earning four times as much. Based on a 2024 study, more than 95% of EIP’s Venezuelan migrant and refugee beneficiaries wish to remain in their host country and have established roots in their new communities.

The USAID Cooperative Development Program in Burkina Faso, Guatemala, Kenya and Senegal. A project that advances the ability of credit unions to provide value to their members, create jobs and contribute to the economy through increased financing to entrepreneurs and small and medium enterprises (SMEs). WOCCU’s partner cooperative institutions provide 100% of the loan capital for targeted businesses, financing critical sectors including agriculture, transportation, hospitality and commerce. Growth in these industries fosters job creation, economic stability, a more attractive investment environment and U.S. trade. With less than $10 million in U.S. Government funds, WOCCU has leveraged $2 million in private sector funding and will unleash $142 million in additional investment (loans) through credit unions.

All WOCCU’s and its local partners’ funding was obligated money, meaning it was already approved by Congress and committed to the organization.

Instant Insights /

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