New YouTube Video Gives Community Investment Fund Overview

Posted: 2011-07-07 00:00:00

Madison, Wis. – The National Credit Union Foundation (NCUF) recently posted a four-minute video on YouTube that gives viewers an overview of NCUF’s primary funding mechanism, the Community Investment Fund (CIF).

The informal video features NCUF’s Resource Development & Donor Relations Director Josie Collins talking about how CIF is an innovative way for credit unions to participate in and support the programs and services that NCUF and the state credit union foundations (SCUFs) provide. The video includes information on how the funds are distributed and how credit union organizations can invest.

“CIF is a unique, social investment opportunity,” notes Collins in the video. “Like many credit unions, you are probably wondering how you can do well and do good in the most painless way possible. Well, investing in CIF is an easy way to make a big difference.”

Click here to watch the video or visit http://youtu.be/64DVCRkeFuY. 

How Does CIF Work?

Celebrating its 12^th 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 National Cooperative Bank, MEMBERS Trust Company, or a designated corporate credit union). What happens then? Each quarter, a portion of the CIF dividends are returned to investing credit unions. The other portion of the CIF dividend is 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.      Biz Kid$

4.      Financial Education Grants

5.      CUAid - Disaster Relief

For this unique way of distributing charitable donations, CIF earned the Association of Fundraising Professionals’ Award for Excellence in Fundraising in 2005.

To learn more about CIF, credit unions can contact their state credit union foundation, league or Collins at jcollins@ncuf.coop or at 800-356-9655, ext. 4397.

###

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. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

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 and CUNA Mutual.  All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. 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.