About Credit Union Response to Ukraine

Connecticut’s Credit Unions

Plan to Provide Humanitarian Aid for Ukraine

Ukrainians, at home and abroad alike, are enduring the devastating effects of a military invasion. Innocent people are suffering from brutal and treacherous violence—and the United States is inextricably involved. Credit unions take seriously their core obligation to support their local communities and the individuals within them with the greatest needs.

Connecticut’s Credit Unions have designed this two-step approach to guide our united support and crisis response efforts:
  • First, we will direct our immediate support to helping a) impacted Ukrainian-Americans in Connecticut and b) contributing to high-impact international aid initiatives.
  • Second, we will greet with open arms and provide financial resources, services and counseling to those refugees that may come here.

Connecticut’s Credit Unions believe that we will provide the most benefit and greatest impact when we act collectively, cooperatively, and with unified purpose.

Unfortunately, the need for humanitarian relief aid will only grow as this crisis unfolds. Our charitable foundation, CUBFI (Credit Unions Building Financial Independence) invites Connecticut’s business community, schools, and individuals to join us with unified focus to support our Ukrainian neighbors and those who may come to Connecticut as they flee the ongoing violence in Ukraine. We encourage donors to use and adapt this model as a framework and guideline for determining where to contribute, even if they choose to channel their support through other entities. 

Participating credit unions will be guided primarily by two overarching cooperative principles inherent at every credit union: Cooperation Among Cooperatives, and Concern for Community.  Accordingly, they will each determine the course of action most appropriate for their own members, which may include providing support directly through CUBFI or directing contributions to organizations of their choosing.

CUBFI will accept donations to a fund specifically restricted to deploying donations from credit unions, individuals, or organizations to: 

1) Prioritize support to organizations that serve residents or refugees of Ukrainian descent;

2) In its discretion, but subject to the following guidelines, channel support in the following ways: 
  • The humanitarian assistance fund at Ukrainian Self Reliance Credit Union;
  • Other organizations that assist impacted CT residents and refugees;
  • Civic and faith-based organizations serving local Ukrainian communities;
  • Charitable opportunities identified by Myron Kolinsky or George Stachiw;
  • Ukrainian response initiatives of the World Council of Credit Union Foundation or the National Credit Union Foundation;
  • Initiatives endorsed by the State of Connecticut;
3) CUBFI may accept other donor-restricted gifts on a case-by-case basis

In addition to using donations for these purposes, CUBFI may:
  • Consider contributing its own funds to incent or match certain donations or fundraising initiatives.
  • Replenish the Small Credit Union Fund to help credit unions prepare to defend against possible cyberattacks.

Ways to Give:
Venmo: @CUBFI
You may also donate via check made out to: CUBFI, 1064 East Main St., Ste. 201, Meriden, CT 06450.
For more information or to make a gift with additional conditions, please contact Dave Hinchey at 203-608-7054.

About Credit Unions Building Financial Independence
Credit Unions Building Financial Independence (CUBFI) is a 501(c)3 charitable organization focused on helping CT residents achieve financial stability and security through program initiatives.

Our Mission: As the charitable arm of the Credit Union League of Connecticut, CUBFI serves Connecticut residents and communities in order to help them build and maintain independence through assistance initiatives, financial education, professional development programs, and helping credit unions to do the same.

In collaborating to build economic capacity, CUBFI will invest and work with partners on new programs that will help consumers become financially capable through credit unions. CUBFI is a catalyst and a resource for credit unions to help consumers build assets and achieve financial independence.