Throughout the world, those with low, irregular or uncertain incomes are generally excluded from formal financial services. Over 1.7 billion people worldwide are still financially excluded, this means they do not have access to savings and loans – women and the rural poor generally being the most affected. A focus on financial inclusion and poverty reduction is always core to the ILCU Foundation’s work.
In 2019, the ILCU Foundation continued the fight against poverty and the injustice of financial exclusion by empowering individuals and educating organisations to provide access to strong, secure and sustainable credit unions in some of the poorest countries in the world. In 2019, we supported credit union movements in Ethiopia, Sierra Leone and The Gambia – these core countries and comprise the focus of our work. We also provided technical support and advice to credit union movements in East Africa and Eastern Europe.
Thanks to the support of almost 200 credit unions in 2019 we have continued to share the Irish credit union experience with others. Contributions from Irish credit unions towards our work amounted to just over €530,000.
The ILCU Foundation staff and Board of Directors would like to express gratitude and appreciation for the support we receive; we are passionate about our work to creating a financially-inclusive world and reduce poverty, thank you to the following: