Worldwide Foundation for Credit Unions Invites Global Movement to Join Flood Relief Efforts in Brazil
Initial $15,000 for immediate humanitarian relief already on the way to Sicredi
May 13, 2024
MADISON, Wis.—Worldwide Foundation for Credit Unions (WFCU), in partnership with World Council of Credit Unions (WOCCU), on Friday launched its Brazilian Flood Relief Fund to solicit donations in support of the credit union movement in Brazil, which has faced unprecedented devastation this month from flooding and overflowing rivers in the state of Rio Grande do Sul.
As of May 9, 417 municipalities in the region have been affected by the floods, displacing more than 150,000 people and forcing 60,000 of them into shelters.
Sicredi—WOCCU's Direct Member and the largest credit union system in Brazil—has a network of 104 credit unions in the country, with 38 of them operating in Rio Grande do Sul. At least half of those institutions have branches that suffered some level of damage, and Sicredi estimates roughly 500 of their employees have been personally impacted.
Responding to Sicredi’s request to support its immediate relief efforts in the region through its Project Storm Break Initiative, WFCU has allocated $15,000 to help meet the emergency needs of the credit union employees and the communities they serve. The money will go toward the purchase and distribution of non-perishable food, potable water, personal hygiene kits, blankets, mattresses and pillows, and clothes for children and adults.
“We are going through a great tragedy. We count on the strength of cooperation and the global movement to help us come out of this stronger. We are now focusing on the emergency needs of the communities we are serving in Rio Grande do Sul. With this scale of destruction, we also realize that the recovery and rebuilding process will take a lot of time and resources. Support from the global credit union movement and Brazilian expats around the globe can play a crucial role in the post-crisis recovery of our credit unions,” said Manfred Dasenbrock, President of Central Sicredi PR/SP/RJ and a member of the WOCCU Board of Directors.
WOCCU is also working with its two Associate Member credit union organizations in Brazil—SICOOB and Cresol Confederation—to learn about their urgent and mid-term needs.
“This is why Project Storm Break was created—to respond both immediately and cooperatively to credit union crises worldwide. WFCU is honored to coordinate a global response to meet the needs of communities throughout Rio Grande do Sul,” said Mike Reuter, WFCU President.
WOCCU and WFCU encourage the global credit union community to join this effort and make a donation to help our colleagues and friends in Brazil.
Donations to the Brazilian Flood Relief Fund are now being accepted here.
The Worldwide Foundation for Credit Unions, as the strategic partner of the World Council, bridges gaps impacting credit unions' ability to grow and advance financial inclusion worldwide. Our commitment to provide global credit union journeys augments our shared vision with World Council's of realizing a vibrant and growing global credit union movement. Worldwide Foundation's philanthropy advances World Council's technical capacity to strengthen credit union systems that advance financial inclusion to underserved communities.
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 90 countries. Worldwide, 82,758 credit unions in 97 countries serve 404 million people. Learn more about World Council's impact around the world at www.woccu.org.
Organization: World Council of Credit Unions
E-mail: rmiller@woccu.org
Phone: 608-395-2036
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