The CAP Project will support a more transparent legal and regulatory environment for credit unions that respects cooperative principles and is in alignment with European Union (EU) standards. It will improve the collaboration between, and build the capacity of two primary national associations of credit unions in Ukraine, in putting forward a unified policy framework in front of Parliament and in supporting the apex organizations in providing consistent high-quality services to their credit union members. The CAP Project will also help develop and promote improved agricultural loan products and services to expand farmers’ access to finance. In addition, CAP will introduce solutions for credit unions to mobilize savings and attract external capital to address liquidity constraints.
As WOCCU embarks upon this journey through the CAP Project, WOCCU will document innovative approaches and lessons learned to be shared with the wider credit union system in Ukraine.
Furthermore, the CAP Project will strengthen the capacity of Ukrainian credit unions to expand agricultural lending, which will increase employment and income opportunities in rural Ukraine. The CAP Project will tap into America’s best resource—its highly skilled citizens and spirit of volunteerism. A total of 64 volunteers from the U.S. and Poland, including Ukrainian diaspora, will provide high-level expertise and mentorship throughout the program. This person-to-person diplomacy will help forge responsive partnerships with Ukrainian counterparts for more sustainable results.
WOCCU will also work with several international partners including, PUM Netherlands, the Irish League of Credit Unions International Development Foundation Ltd. (ILCUF) and the National Association of Savings and Credit Unions of Poland (NACSCU), to leverage technical and regulatory expertise from each of these countries to strengthen Ukraine’s credit unions.