CUNA Mutual supports African Credit Union Education Project

A street market in Nairobi, Kenya. Source: Adobe Stock

CUNA Mutual Group in Madison, Wis., has donated $125,000 to the ACCOSCA Academy, a project of the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA), according to an announcement from Climb Africa, a campaign fundraising for the benefit of people in academy activity.

ACCOSCA is developing the ACCOSCA Academy to provide education and training to employees of SACCOs – savings and credit cooperatives in Africa who are members of ACCOSCA. According to the Climb Africa website, academy organizers are working to raise $1.2 million to outfit their offices and build a state-of-the-art training academy, and have set a goal of raising $680,000 from this amount from American credit unions and their partners.

The donation from CUNA Mutual Group brought the total amount contributed by US credit unions and their partners to the project so far from $182,000 to $307,000, according to donation amounts listed on the Climb Africa website. Other donors included the African American Credit Union Coalition ($12,000); the $3.4 billion ($50,000) Local Government Federal Credit Union based in Raleigh, North Carolina; the $4.7 billion ($50,000) Raleigh-based Coastal Federal Credit Union; the $27.8 billion SchoolsFirst Federal Credit Union, based in Tustin, Calif. ($50,000) and the $4.9 billion, Summit Credit Union, based in Cottage Grove, Wis. ($20,000) .

The ACCOSCA Academy will also provide opportunities for staff, management, board members, regulators and members of the community of SACCO institutions, which represent over 750 million consumers in 27 African countries that are not generally not served by the traditional financial sector, to meet the socio-economic needs of African villages and towns, neighborhoods and nations, said Climb Africa.

“At CUNA Mutual Group, we believe that a better financial future should be available to everyone,” said Robert N. Trunzo, President and CEO of CUNA Mutual Group. “We are proud to support the ACCOSCA Academy in its efforts to meet the socio-economic needs of Africans. We are part of a connected global community, and by working collaboratively with each other, we can achieve financial well-being for all.

ACCOSCA Executive Director George Ombado added, “The commitment of our African financial services community, in addition to the commitment of our US supporters, is quickly making our vision for ACCOSCA Academy a reality. This cooperative collaboration will soon strengthen African communities across our country. Thanks to CUNA Mutual Group for supporting our vision and commitment to improving communities around the world with the support of cooperative financial institutions.

Created in 1968, ACCOSCA is the pan-African confederation of national associations of cooperative savings and credit societies. As part of Climb Africa’s fundraising campaign, a climbing event on Mount Kilimanjaro in Tanzania will take place this fall, along with a virtual version of the climb. Credit unions interested in participating in the climb or making a donation to support the ACCOSCA Academy can find out more here.

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