Cheney, president and CEO of the Ontario-based California and Nevada Credit Union Leagues, recently visited Haiti as part of the World Council of Credit Unions field engagement program.
The delegation of 14 studied Haiti's credit union movement while also discussing ways the global credit union system can help and meeting with credit union members.
"It's important that capital get flowing again," Cheney said. "People need money to rebuild their businesses and rebuild their homes."
The group toured three credit unions in Port-au-Prince and in the earthquake epicenter of Leogane on April 21.
"The spirit of the people is incredible given what they've been through," Cheney said.
Prior to the earthquake, more than 400,000 people were being served by Haiti's 175 credit unions, said Michael Muckian, spokesman for World Council of Credit Unions.
Unfortunately, because many of the credit unions were so small, not all will recover, Muckian said.
Many of the credit unions are now operating out of office-sized tents, donated by the the credit union council, because buildings the credit unions were in were reduced to rubble, Cheney said.
While in Haiti, Cheney saw people taking out loan applications and making cash transactions. Initially, the credit unions were having to do things manually, but they now have generators and are using computers.
"It's critical to start the process of rebuilding," Cheney said.
But in order for the Haitian credit unions to fully recover, it will require some technical assistance from many of the 8,000 credit unions in the United States, he added.
The World Council of Credit Unions, the global trade association and development agency for credit unions, has been working with Haiti's credit unions since July.
Following the earthquake, the council set up the Haitian Relief Fund to assist the credit unions.
For more information or to donate, contact Valerie Breunig at vbreunig@woccu.org or call 608-395-2055.
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