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CUNA and WOCCU Support Appropriations Com. Language Giving Priority to CU Development
Thursday, July 6, 2017 6:45 AM

In partnership with the World Council of Credit Unions, Credit Union National Association sent a letter to the Appropriations Committee and Subcommittee leadership in both the House and Senate. The letter is in support of proposed report language in the State, Foreign Operations, and Related Programs Appropriations Act for fiscal year 2018 that would urge the United States Agency for International Development (USAID) to give a high priority to credit union development, as required by existing law. 

“[World Council] and its credit union partners also promote democratic principles in the developing world and teaches self-reliance rather than reliance on state structures,” reads the letter, signed by CUNA President/CEO Jim Nussle and World Council President/CEO Brian Branch. "This means that this ‘foreign aid’ actually gets to its intended recipients and also provides a net benefit to American taxpayers."

The language CUNA and the WOCCU would like included is:

“In order to promote private sector entrepreneurship, establish public-private partnerships fostering democratic civil society building, and strengthen the participation of the rural and urban poor in their country's development, the Committee encourages USAID to give high priority pursuant to 22 U.S.C. § 2151i(2) to the promotion of national credit union systems through credit union-to-credit union technical assistance that strengthens the ability of low income people and micro-entrepreneurs to save and to have access to credit for their own economic advancement.” 

WOCCU receives partial funding through USAID programs to further its mission to, “Reduce Poverty through Sustainable Community Based Financing of Private Entrepreneurship and Agriculture.”   

As Congress appropriates money for FY 2018, CUNA and WOCCUA will continue to urge funding in order for WOCCU to continue important programs promoting democratic principles in the developing world and teaching self-reliance rather than reliance on state structures.

Read the full text of each letter House & Senate.