Thirty years ago, on June 9, 1994, after two years of active work by the Organizing Committee for the revival of credit unions in Ukraine, about 20 credit unions from most regions, together with representatives of the credit union movement from the Canadian-American diaspora, gathered for the founding assembly and established the Ukrainian National Association of Savings and Credit Unions (UNASCU). It became the successor of the Organizing Committee. Later, the founding agreement was signed, and that same year UNASCU received state registration from the Ministry of Justice of Ukraine.

It was with UNASCU that the modern credit union movement in Ukraine began. For more than 10 years, until the creation of a state regulator, the Association was de facto a self-regulatory organization, the main and practically the only center for building credit cooperation in Ukraine. With the support of international partners, it sought and found advocates of the cooperative movement among government officials, parliamentarians, and public organizations, who later, together with UNASCU, promoted the movement among the population and lobbied for legislation. In the late 1990s, the Association began to develop its own financial funds as one of the key instruments for stabilizing and integrating credit unions within the UNASCU system.

The history of UNASCU is closely linked to the history of independent Ukraine, with all its successes and achievements, crises and stagnations. Over three decades, the Association has lived through different times. During the period of dynamic growth, UNASCU included more than 180 credit unions, with total assets exceeding 1 billion USD and membership surpassing 2 million people. Later, the global financial and economic crisis, recession, mass negative publicity, the annexation of Crimea, and the occupation of eastern Ukrainian territories by Russia — where many UNASCU member credit unions operated — painfully affected the entire cooperative system and the Association in particular. Yet the cooperative community and the Association have always overcome challenges with dignity, thanks to unity, mutual support, and devotion to their mission.

Veterans of the credit union movement fondly remember the unforgettable celebration of UNASCU’s 10th anniversary held in Kyiv and Crimea, the 15th anniversary in Mukachevo, Zakarpattia, as well as warm memories of annual reporting and election conferences (more than 30 in total), international and scientific-practical conferences in Turkey and Egypt, and WOCCU world forums in Canada, Hong Kong, and Poland.

Unfortunately, the 20th anniversary could not be properly celebrated — in 2014 Russia launched its aggressive war. Understandably, celebrations are not possible today either: every day missiles, bombs, and drones strike Ukrainian cities and villages, bringing death and destruction. This “brotherly love” costs our state, our credit unions, and each of us dearly. But we do not give up — we work and will continue to work as persistently and selflessly as in the past 30 years. Because UNASCU is, above all, people you all know well, for whom the concept of “credit unions” means not just financial institutions (and certainly not “market players,” as some think), but a community of people united by common interests and the desire to help and support one another.

On its 30th anniversary, UNASCU wishes all colleagues in the credit union movement peace, resilience, financial stability, and unwavering faith in Victory in these difficult times. Our sincere gratitude goes to everyone who has been with us throughout these years, as well as to colleagues from the global credit union movement for their unprecedented support and assistance. And our greatest thanks go to the Armed Forces of Ukraine, because it is thanks to them that we are able to live and work. We firmly believe that, despite everything, we will overcome all trials with dignity and celebrate many more anniversaries to come!