GOLD2024

Worldwide Foundation for Credit Unions, Inc.

Do Good. Do Global Good

Madison, WI   |  www.doglobalgood.org

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Mission

Worldwide Foundation for Credit Unions, Inc. provides pathways to reducing gaps in the advancement of global credit union growth and universal access to financial inclusion for a billion lives.

Ruling year info

1966

President & CEO

Mr. Elissa McCarter LaBorde

Main address

PO Box 2982

Madison, WI 53701-2982 USA

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EIN

39-6093210

NTEE code info

International Economic Development (Q32)

International Development, Relief Services (Q30)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Blog

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Our mission is to improve lives through credit unions and financial cooperatives. We are fighting financial exclusion through community -based financial solutions, worldwide. Our programs are focused on the credit union community, have a positive measurable impact on lives through credit unions, and are sustainable.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

CDP Tifi

Project Overview
Although financial cooperatives are uniquely positioned to deliver livelihood-enhancing financial services including savings, credit, and insurance, evidence shows that there is significant unmet demand for small and medium enterprise (SME) credit in developing countries. This is in part because financial cooperatives and credit unions do not have the capacity and tools to deliver SME finance. Only six to eight percent of adults in CDP TIFI target countries have access to credit, compared to 11 percent globally and 34 percent in the United States (World Bank Global Findex 2017, https://globalfindex.worldbank.org/). Women, youths, and rural adults have even lower access to credit than average.

The CDP TIFI activity, funded by USAID will increase lending to small and medium enterprises (SMEs) by deploying the World Council SME FinanceToolkit, starting in three countries Burkina Faso, Guatemala, and Kenya each with its own key partner: Confdration des Institutions

Population(s) Served

Project Overview
Venezuelas political and economic crises continue to lead Venezuelans to leave their country. As of November 2023, more than 7.72 million individuals have migrated from Venezuela, with an estimated 1.54 million Venezuelan refugees and migrants in Peru and 474,900 in Ecuador [1]. Despite international pressure and alleged economic improvement, the situation in Venezuela continues to deteriorate, leaving Venezuelan migrants and refugees with little hope of returning to their country and prompting most to build a new life in their host countries

For its part, host countries continue to experience growing political instability, inequality, social upheaval and a surge in violence and crime, which exposes migrants and refugees to increased unemployment, heightened gender-based violence (GBV), and xenophobia. In addition, hosting large numbers of Venezuelan refugees and migrants, both Peru and Ecuador face several key issues related to this crisis, including addressing the

Population(s) Served

Project Overview
Affordable finance is key to the operation and growth of every business. But micro-, small- and medium-sized agricultural enterprises in Ukraine are rarely the target audience for commercial banks, as their financing needs are too small in scale. Credit unions are often their financial partner of choice, providing loyal customer service through an individual, tailored approach, without the burdensome bureaucracy of a large bank. Yet, credit unions in Ukraine need support to strengthen their capacity and meet members needs, especially since the credit unions sector has lacked reform for more than 25 years.

The Credit for Agriculture Producers (CAP) Project in Ukraine began as a four-year project (2016-2020) funded by USAID and implemented by World Council for Credit Unions (WOCCU). USAID has since extended the project twice, most recently through September 2024.

Since Russia launched its full-scale invasion of Ukraine in February 2022, the USAID/WOCCU CAP Project has

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people
Immigrants and migrants
Farmers
Self-employed people
Ethnic and racial groups
Economically disadvantaged people
Immigrants and migrants
Farmers
Self-employed people
Ethnic and racial groups
Economically disadvantaged people
Immigrants and migrants
Farmers
Self-employed people

Where we work

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Our development programs provide people with access to finance that allows them to solve their own health, education, food and economic problems. The financial empowerment of connecting unbanked populations to the resources they need to succeed is lifechanging. We continue developing technology to make financial institutions and mobile network systems interoperable. In turn, we build capacity of local merchants and train underserved populations on how to use mobile technology for practical purposes

We provide technical assistance and training to support financial markets in growing economies, along with global partners, such as USAID, the UN, and the World Bank by promoting financial inclusion, strengthening institutions as well as providing policy and regulatory support.We implement projects globally that extend financial inclusion., including:  Improving financial access for smallholder farmers in Kenya, Guatemala, and Ukraine  Building the market for safe and affordable housing for low to middle income Haitians  Ensuring economic stability for displaced and disrupted communities in Colombia  increasing employment for youth and young adults in Guatemala and Ukraine  Delivering community stability through financial support in periods of conflict in Ukraine  Empowering legislative and regulatory environment for CUs in Ukraine.
Due to the rapid growth in innovative technologies, the financial sector has become an ever-changing landscape. We want to ensure that the credit unions can adapt fast enough to ensure that community needs are being met. Engaging digital partners lets us focus on our strength which is institution building and market outreach. We use the following principles to integrate established best practices into its current and proposed technology-enabled programs.  Digitize transactions and automate institutional processes
 Build digital literacy alongside financial literacy  Be technology agnostic by encouraging natural market evolution & not investing resources in technology that will become outdated  Identify “anchor” credit unions that will spark further development  Remain transparent; invite multiple partners in assistance process  Internally, develop shared networking; externally, develop interoperability  Focus on long-term, integrated systems building by building in sharing platforms & agreements up front  Promote open-sourcing arrangements  Share learnings widely  Collaborate & partner as often as possible
WOCCU’s programs will ensure equitable access to financial services and products and support women’s leadership in the industry. Through our programs, we will continue to work with financial institutions to design financial products specifically tailored towards women and youth. For example: KENYA We supported the development of six tools for women micro-entrepreneurs and farmers. These interventions have proven successful, whereas 36% of partner financial institution customers are women.
HAITI & COLOMBIA In Haiti, we work with savings and loans groups that are exclusively women, mostly women or have equal
membership percentages between men and women. This inclusivity has created an equitable outreach strategy, and in some cases, female beneficiaries exceed male ones, such as in our Colombia program where 60% of beneficiaries are women.
Over the past four years, WF has delivered nearly $1 million in aid to credit union organizations affected by natural disasters

We are experts in financial inclusion. We have a cadre of technical professionals that deploy our core competencies in institutional strengthening, as well as working with SMEs and individuals to drive entrepreneurship, train on financial decision-making capacity and instill financial literacy and discipline.

Our goal to increase credit union membership to at least 260 million in 2020 was achieved two years ahead of schedule in 2018. Going forward, WOCCU is continually improving and updating its core set of tools and methodologies to guide our implementation projects, keeping up to date and adaptable to new opportunities and evolving market environments.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback

Financials

Worldwide Foundation for Credit Unions, Inc.
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

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lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Worldwide Foundation for Credit Unions, Inc.

Board of directors
as of 03/28/2024
SOURCE: Self-reported by organization
Board chair

Mr. Bill Cheney

SchoolsFirst Federal Credit Union

Term: 2017 - 2024

Crystal Long

GECU Credit Union

Dallas Bergl

Inova Federal Credit Union

Manfred Dasenbrock

Sicredi

Susan Mitchell

Mitchell, Stankovic & Associates

Brian Caldarelli

PSCU

Dwayne Naylor

Civic Federal Credit Union

Renee Sattiewhite

African-American Credit Union Coalition

Joe Thomas

NextMark Credit Union

Raj Bandaru

Kinecta Federal Credit Union

Jennifer Oliver

SCE Credit Union

J. Kevin Ryan

Financial Center First Credit Union

Tyler Valentine

StagePoint Federal Credit Union

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Not applicable
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Not applicable
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Not applicable
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 3/28/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 02/11/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.