We’re proud to say that 140 credit unions from the Irish credit union movement donated over €422,000 to our work in 2021. In addition credit union members and the public donated over €32,000 via fundraising initiatives including the inaugural CU Challenge. These generous donations enabled the Foundation to support our dedicated local partners to develop and strengthen their 193 credit unions with over 181,000 members in our three core countries – Ethiopia, Sierra Leone and The Gambia.
This means they have no means to securely save their money, no access to ethical loans, no financial education and as a result, are at risk of becoming indebted to high-interest loans.
Most of these people are living in low-income developing countries, where careful financial management is necessary to support the families and businesses in the communities they reside, to effectively prepare for, respond to and recover from livelihood shocks and stresses.
Access to basic financial products and services can transform a community. It can unlock opportunities for education, employment, entrepreneurship and can provide a safety net to manage their finances and absorb financial shock in times of crisis.
The Foundation plays an important and key role in educating people and assisting in the development of credit union movements internationally, providing safe and ethical financial solutions for communities and working towards the goal of achieving financial inclusion for all.