MADISON, Wis.—The Worldwide Foundation for Credit Unions (WFCU) dedicated $180,000 to help Ukrainian veterans and their families access affordable business loans through its Venerate Ukraine’s Veterans initiative.
An April 2024 visit to Ukraine prompted WFCU President Mike Reuter to launch the Venerate Ukraine’s Veterans’ campaign, because many servicemen and women returning from war are eager to start businesses but face financial barriers. The funds raised provide essential support for their reintegration and promote Ukraine’s economic recovery.
In collaboration with World Council of Credit Unions’ (WOCCU) advisory and technical team in Ukraine, WFCU selected four credit unions — Khrystyianska Fortetsia, Persha Vseukrayinska Kredytna Spilka (PVKS), Credit-Sous and Anisiya — to distribute the funds.
The first loans have already been disbursed by Credit Union Khrystyianska Fortetsia, making an immediate impact:
- Ivan, a veteran injured in combat, supports his family through farming. With a $4,000 loan, he can now invest in his wheat, corn and sunflower crops. He was especially moved by the credit union’s personalized support, a stark contrast to his previous experiences with financial institutions.
- Anastasiia, whose husband Andrii went missing in action in March 2023, received $7,000 to start a home textiles store. As a single mother of a five-year-old, she lacked financial resources, but the credit union provided both funding and business guidance.
- Hennadii, a retired lieutenant colonel wounded in battle, turned to poultry farming but needed funds to expand. With a $7,000 loan, he can now grow his business, provide for his family and create new jobs while his two sons serve on the front lines.
“Veterans who have defended their country deserve the opportunity to rebuild their lives, and credit unions are uniquely positioned to make that possible,” said Reuter. “Through this program, we’re not only supporting individual entrepreneurs but also strengthening Ukraine’s economic future.”
Since Russia’s February 2022 invasion of Ukraine, WFCU has provided critical support to over 10,000 Ukrainians through various relief and recovery programs, with total aid exceeding $1.8 million.
This commitment builds on years of groundwork laid by the WOCCU Credit for Agriculture Producers (CAP) Project in Ukraine (2016–24), which helped expand access to affordable financing.
Through these efforts, more than 21,000 loans were disbursed to rural Ukrainians, strengthening local economies and empowering communities long before the current crisis.
Ivan, veteran of the Russo-Ukrainian war
Anastasiia, spouse of a Ukrainian serviceman
Hennadii, retired lieutenant colonel
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