About Us | Contact Us | Subscribe to Emails | Partners | Vendor Directory | CU Resources | Find a Credit Union | RSS | Share Share
Press Center





  
 

NCUF Offers Expands Community Investment Fund Options– Partners with MEMBERS Trust Company

Posted: 2011-03-17 00:00:00
Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop

Madison, Wis. -- The National Credit Union Foundation (NCUF) and MEMBERS Trust Company, FSB have entered into a strategic alliance to expand options for credit unions to make charitable contributions to the Foundation through the Community Investment Fund (CIF).CIF is a way for credit unions to participate in and support the programs and services that NCUF and the state credit union foundations (SCUFs) provide.

With the goal of creating comprehensive giving options correlated to investment goals and risk, the alliance will give credit unions new alternatives which include an insured CD Custodian Account and aPart 703 compliant Investment Trust.

“Working with MEMBERS Trust Company is a natural fit for CIF and credit unions,” said Bucky Sebastian, NCUF Executive Director.“The alliance with MEMBERS Trust Company will also contribute to the long-term strategy of building a reliable and sustainablefunding base to support our mission of promoting consumer financial independence.”

“We are excited to work with NCUF and credit unions on these new CIF options,” said Tom Walker, CEO of MEMBERS Trust Company. “More choices mean more flexibility for credit unions to make an investment and help support credit union development initiatives in their community, in their state and across America.”

NCUF and MEMBERS Trust Company are also finalizing details for another CIF option in the form of a Charitable Lead Trust. With this type of trust, NCUF will receive income payments for a fixed period of time after which the assets and any excess earnings over the annual income payments would  be returned to the credit union unless a the term is renewed. The investments, as with the standard Charitable Lead Trust created for U.S. Foundations, would be allocated with bonds and equity securities. 

How Does CIF Work?

Celebrating its 12th year, the Community Investment Fund gives credit unions the ability to leverage their investments to support innovative credit union programs. Credit Unions invest in a Community Investment Fund account (through a corporate credit union, MEMBERS Trust Company, or National Cooperative Bank). What happens then? Each quarter, half of the CIF dividends are returned to investing credit unions. Half of the CIF dividends are donated to NCUF.  NCUF grants half of its NCUF dividend to each investing credit union’s state foundation or league. NCUF uses the remaining portion of the CIF dividend to support its national programs including:

1.      REAL Solutions®

2.      Credit Union Development Education

3.      Financial Education Grants

4.      CUAid - Disaster Relief

To learn more about CIF, credit unions can contact their state credit union foundation, league or NCUF’s Resource Development & Donor Relations Director Josie Collins at jcollins@ncuf.coop or at 800-356-9655, ext. 4397.

###

About MEMBERS Trust Company (memberstrust.com):

MEMBERS Trust Company, FSB is a special purpose savings bank chartered by the Office of Thrift Supervision and owned and managed by America's Credit Unions. The company was initially formed in 1987 by Suncoast Schools FCU and has $675 million in assets under management.

 

About the National Credit Union Foundation (ncuf.coop):

The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association, CUNA Mutual Group, Harland Clarke, CO-OP Financial Services, STAR, California&Nevada Credit Union Leagues, Card Services for Credit Unions, and Visa.  All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

 
 
Comments (6)
Posted:2012-05-03 01:07:38
By:Lavonn
In addition to what others have said, “high interest rates” on relatively small loans with a relatively short repayment period (such as car loans) don’t make nearly as much difference as on large ticket items with a long repayment period (such as a mortgage).For example, if you owe $10,000 on your car with an interest rate of 8% and 3 years to repay, you will be paying about $313/month. If you owe the same amount, same repayment period, with an interest rate of half that, i.e., 4% you will be paying just over $295/month. Your “savings” from the “better” interest rate is just a little over $0.50 cents per day. There are a lot easier ways to save $0.50 cents per day than by trying to refinance your vehicle when your credit score won’t support a refinance. For example, drink tap water for one beverage per day rather than drinking coffee, tea, soda pop, or juice. That will save you more money than would refinancing the hypothetical vehicle in this example.

a auto insurance infinity auto insurance
Posted:2012-04-28 00:41:24
By:Irish
මෙහෙම සතෙක් ගැන කලින් දැනගෙන හිටියෙ නෑ නේ.බොහොම ස්තුතියි මේ වගෙ වටිනා තොරතුරු බෙදාහදා ගන්නවාට.

levitra buying viagra
Posted:2012-04-11 22:04:08
By:Lainey
You have a good rate, this is signature loan? Meaning no colloidal, not backed by house or car title? You need to step up the payments as much as possible, 5 years is too long to take to pay back this loan.You should be able to put $1,000 a year in the savings account after all you bills are paid. This is minimum, you should be trying to put $500 a month in the saving account on a regular basic.

buy auto insurance online auto insurance
Posted:2012-04-10 21:18:30
By:Tallin
Bank on itWith all the hullabaloo recently with “too big to fail” and people occupying streets, many folks have started taking a look at who they let hang on to and invest their money. Traditionally, unless you are like my grandmother and hide money in various odd locations throughout your house, you probably keep your money in a bank. Recently, however, credit unions have been surging in popularity. So what exactly is the difference between a bank and a credit union? Well, both hold on to your money for you and offer you easy access to it, but they do differ in some key ways — let’s take a look.Credit where credit is dueI’m not going to argue one way or another for which is “better,” that’s entirely up to you and your banking needs. What I will do is compare and contrast these two types of financial institution, so you can make your own decision. With that said, here we go.BanksCan be nationwide, even worldwideOperate on a for-profit business modelTypically owned by private investorsGoverned by a board of directors chosen by stockholdersOffer business as well as consumer accountsCredit unionsTend to be regionalOperate as a non-profit financial cooperativeOwned by their members, i.e. their account holdersGoverned by a board of directors chosen by the membersStrongly consumer orientedBecause credit unions don’t need to turn a profit, any interest they earn by investing your deposits is returned to you in the form of a member dividend. They also tend to have lower fees and higher interest rates on savings and checking accounts.Banks have their advantages, too. If you frequently travel or work outside of your home region and require physical access to your financial institution, a nationwide bank might be a better option. Yes, you can withdraw money anywhere, from any ATM with a credit union, but if you need to make a deposit when the nearest one is 500 miles away, this may present a difficulty.The payoffObviously, your particular needs will determine which type of financial institution suits your needs the best. Don’t just automatically assume that one is correct for you based on what I’ve written here — go and do your research. Find out what banks and credit unions are popular in your area, and talk to people about what they like and don’t like about them. When it comes to money, the best decision is an informed decision.

auto insurance quotes auto insurance
Posted:2012-04-06 15:37:33
By:pazqgk
KL1z6J diiszcdtfskn
Posted:2012-04-05 04:36:07
By:Ompal
, I was of the impression that anynoe can pull anynoe's credit with the subject's permission. Work with a lawyer and have them create a consent form for you. I just checked my credit report and it was pulled LITERALLY 12 times in the past 7 months. 9 of these pulls were 'soft pulls' meaning that I did not initiate any of them.Saying that to say that there is a way. I just dont know what it is

Post a Comment

Please provide your information. Name and email address are required. Email address will not be displayed with the comment.
 
Name:
Email:
Comments:
 
Security:
Please enter the code shown in the image		  
 
 
 


Quick Links
Site Map  |  Contact Us
Copyright CUinsight © 2012. All rights reserved.