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Madison, Wis. – The National Credit Union Foundation’s board of directors recently approved 15 new grants for 2011, totaling $294,510. All of the grant projects have a financial education component.
“At the Foundation strategic planning meeting a few months ago, we decided to make financial education a priority in 2011,” said Bucky Sebastian, National Credit Union Foundation (NCUF) Executive Director. “Financial education has long been a part of the Foundation’s and REAL Solutions’ mission. It’s also vital to the success of credit unions and consumers nationwide.”
The grant projects range from youth financial education in and outside of school to a variety of different types of financial counseling and coaching. Some highlights:
- Mid-America Credit Union Association in Bismarck, N.D. will provide financial education to participants in the Women, Infants and Children Nutrition Program (WIC) on the dangers of payday lenders. This will also provide safe credit union alternatives to payday lending and increase awareness of credit unions in the Dakotas.
- Metro Credit Union in Chelsea, Mass will develop and implement one-on-one financial coaching provided by corporate volunteers who will assist low income households to identify and follow a path to financial stability and mobility.
- Texas Credit Union League in Farmers Branch, Texas will implement statewide financial Reality Fairs utilizing social media to enhance student particpation, deliver financial education and track the impact social media has on financial literacy of young people. The fairs will increase knowledge and awareness of credit unions, financial tools, credit knowledge and credit union accounts for students 13-18 years of age.
- Credit Union Foundation of MD & DC in Glenelg, Md. will expand “The Millionaires Club,” a high school level, self sustaining, financial literacy after school club in four select pilot expansion locations.The club’s goal is to improve personal financial skills among high school students by providing them basic financial education they can place into practice both immediately and during their financial maturation processes.
The other credit union organizations receiving grants include:
- Alternatives Credit Union, Ithaca, N.Y.
- Filene Research Institute, Madison, Wis.
- Hill District Credit Union, Pittsburgh, Pa.
- Iowa Credit Union Foundation, Des Moines, Iowa
- Millstream Area Credit Union, Findlay, Ohio
- Montana Credit Unions for Community Development, Helena, Mont.
- National Federation of Community Development Credit Unions, New York, N.Y.
- New York Credit Union Foundation, Albany, N.Y.
- New York University Credit Union, New York, N.Y.
- Texas Credit Union Foundation, Farmers Branch, Texas
- University of Virginia Credit Union, Charlottesville, Va.
NCUF Grants are made possible by supporters of the Foundation and the Community Investment Fund (CIF), an award-winning system of investments that help credit unions earn dividends while donating to national and state community development programs.
*Note to editors: A full list of grants with overviews of each project is in a separate document sent with this press release and is also available online here.
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, 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.
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.