Support for Overseas Cooperative Development Act

Support for Overseas Cooperative Development Act - Declares that Congress supports the development and expansion of economic assistance programs that fully utilize cooperatives and credit unions, particularly those programs committed to: (1) international cooperative principles, democratic governance and involvement of women and ethnic minorities for economic and social development; (2) market-oriented and value-added activities with the potential to reach large numbers of low income people and help them enter into the mainstream economy; (3) a strengthened participation of rural and urban poor to contribute to their country's economic development; and (4) utilization of technical assistance and training to better serve the member- owners.

Amends the Foreign Assistance Act of 1961 to provide that, in meeting the goal of strengthening the participation of the rural and urban poor in their country's development through the use of development funds for technical and capital assistance in the development and use of cooperatives in less developed countries, that priority be given to: (1) technical assistance to low income farmers who form and develop member-owned cooperatives for farm supplies, marketing, and value-added processing; (2) the promotion of national credit union technical assistance that strengthens the ability of low income people and micro-entrepreneurs to save and to have access to credit for their own economic advancement; (3) the establishment of rural electric and telecommunication cooperatives for universal access for rural people and villages that lack reliable electric and telecommunications services; and (4) the promotion of community- based cooperatives which provide employment opportunities and important services such as health clinics, self-help shelters, environmental improvements, group-owned businesses, and other activities.