The Patriarchal Econome of the UGCC in Melbourne Became Acquainted with the Activities of the Ukrainian Bank “Dnister”

The meeting was attended by Fr. Lubomyr Yavorskyy, the Patriarchal Econome of the UGCC, Bishop Mykola Cardinal Bychok, Bishop of the Melbourne Eparchy of the Holy Apostles Peter and Paul, and the entire team of the bank led by CEO Ashley Hood.

According to representatives of the financial institution, the history of “Dnister” began in 1951. At that time, it was a self-help credit group called “Self-Sufficiency.” One of the initiators of its creation was the first Melbourne Bishop Ivan Prasko. So, the first “offices” were in the basements of Ukrainian churches, including the cathedral. The purpose of this credit group was to provide financial assistance to newly arrived Ukrainian migrants. However, over time, banking legislation in Australia changed, which led to the creation of the “Dnister” credit union in 1959 as a limited liability credit society.

Currently, the “Dnister” bank has over 8,600 members and total assets exceeding $244 million. “We are proud of our heritage and status as the largest ethnic credit cooperative in Australia,” bank representatives said during the meeting. Today, it is an Authorized Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA).

“Even today, their charter speaks of cooperation among Ukrainians and for Ukrainians. So, it was extremely valuable for me to learn about the activities of such an institution. After all, we too are eagerly awaiting the long-awaited time of the end of the war on our native land, which will be marked by further reconstruction. We strive to rebuild our native home, and this will require us to create various cooperatives, of which the Ukrainian Greek Catholic Church is also called to be a part,” Father Lubomyr Yavorskyy summarized the meeting.

In turn, representatives of the banking institution expressed gratitude for the meeting in their post. “Thank you for your time, your friendship, and the spiritual guidance you provide. We humbly celebrate this significant event with you and express our sincerest and dearest greetings. Thank you for visiting our head office at ‘Dnister’,” they said.

They then added: “Ukrainians around the world are united by faith and strength, supporting the vital spiritual work you do and will continue to do. Together, we embody our shared belief — ‘Strength in unity’.

Press Service of the Patriarchal Foundation “Mudra Sprava”