KATHMANDU, Nepal—Several credit union organizations around the world are seeking to provide aid and relief to their counterparts in Nepal in the wake of the devastating 7.9 earthquake here.
The death toll from the earthquake is approaching 5,000 people, according to authorities.
The World Council of Credit Unions (WOCCU) said it has been in communication with the Nepal Federation of Savings & Credit Cooperative Unions (NEFSCUN) as well as the Association of Asian Confederation Credit Unions to launch a fundraising effort to help Nepalese CUs, which are known locally as Savings and Credit Cooperative Societies (SACCOs).
"Credit unions from around the world have expressed the desire to help our Nepalese colleagues affected by the earthquake," said Brian Branch, World Council president and CEO. "As we have seen so many times in the past, part of what makes us a global community is our commitment to help each other in times of need."
At this time, NEFSCUN reports massive damage to financial institutions and member properties, severely impacting the ability to access services during this critical time. Much-needed cash contributions from the global credit union community will rehabilitate damaged SACCOs and benefit members’ lives.
The World Council and ACCU have been working with Nepal’s credit unions since 1993. Just last week, on April 19, six days before the earthquake struck, the Global Women’s Leadership Network initiated the country’s first local Network chapter, or “Sister Society,” to advance the professional growth of credit union women in the region.
"Credit unions play a major role in providing access to finance in the most remote regions of Nepal, giving members a safe haven for savings and loans for education, healthcare, alternative energy and increased agricultural production," said Peter Graves, World Council vice president of technical services. "Our thoughts go out to all Nepalese and others living in Nepal, including credit union members, negatively impacted by this past weekend's earthquake. World Council will support Nepalese credit unions' efforts to rebuild after an initial assessment has been undertaken."
Credit unions seeking to help the Nepalese credit unions can send a check, credit card or wire to: Worldwide Foundation for Credit Unions, Inc., 5710 Mineral Point Road, Madison, WI 53705.
Donations can be also made online today at www.woccu.org/give.