MADISON, Wis.—The Worldwide Foundation for Credit Unions (WFCU) is reporting that through its Venerate Ukraine’s Veterans initiative it has provided $180,000 to help Ukrainian veterans and their families access affordable business loans.
The Foundation said that during a 2024 visit to the country, WFCU President Mike Reuter was prompted 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 said it selected four credit unions — Khrystyianska Fortetsia, Persha Vseukrayinska Kredytna Spilka (PVKS), Credit-Sous and Anisiya — to distribute the funds.
Where Funds Have Gone
The first loans have already been disbursed by Credit Union Khrystyianska Fortetsia, making an immediate impact, according to the Foundation. Funds have gone to:
- Ivan, a veteran injured in combat, who 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, who 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, who 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.”
‘Deserve an Opportunity’
“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 in a statement. “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 said it has provided critical support to over 10,000 Ukrainians through various relief and recovery programs, with total aid exceeding $1.8 million.
The foundation said that 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, the foundation reported.