NCUF 2012 Grants Announcement
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Madison, Wis. – The National Credit Union Foundation’s board of directors recently approved 19 new grants for 2012, totaling $287,387. All of the grant projects have a financial education component.
According to a Financial Literacy Survey of adults last year from the National Foundation for Credit Counseling, Inc., 34% of respondents, or nearly 77 million people, gave themselves a grade of C, D or F in personal finance skills. 78% agree that they would benefit from advice and answers to everyday financial questions from a professional, and nearly one-third (31%) strongly agree.
“The need for financial education is still critical in America,” said Tom Candell, National Credit Union Foundation (NCUF) Deputy Executive Director, COO/CFO. “This is the 2nd year in a row that NCUF is focusing exclusively on financial education in our grants which will ultimately help more people achieve financial freedom.”
The grant projects range from youth financial education to a variety of different types of financial counseling and coaching. Some highlights:
- Carter Federal Credit Union in Springhill, La. will combine education with entertainment for an innovative approach to financial education. They will develop a member volunteer training program, partner with a local studio to film a series of financial literacy video trailers to be shown before movie features in a local theatre and provide interactive workshops around Biz Kid$ and Spendster.
- First Financial Credit Union in Gallup, N.M. will design a reality fair (an interactive financial literacy tool) that is designed for use in Native American communities and to offer the reality fair to high school students on native lands.
- Self-Help Federal Credit Union in Oakland, Calif. will refine and deliver “in-line financial education” at Self-Help Federal’s Micro Branch (a unique check casher and credit union hybrid). In-line financial education is an innovative model designed to nudge underbanked customers using bite sized pieces at the teller line towards credit union membership and financial products that will ultimately lead to asset development.
- Southern Chautauqua FCU in Lakewood, NY will enhance a project called “Kids’ Credit Union designed to provide a financial education curriculum and track student progress from 2nd grade all the way through high school.
The other credit union organizations receiving grants include:
- ABCO Federal Credit Union, Rancocas, N.J.
- Alaska USA Federal Credit Union, Anchorage, Alaska
- Alternatives Federal Credit Union, Ithaca, N.Y.
- Arcadia Federal Credit Union, Fort Kent, Maine
- Ascentra Credit Union, Bettendorf, Iowa
- Central City Credit Union, Marshfield, Wis.
- Dakotaland Federal Credit Union, Huron, S.D.
- Erie Federal Credit Union, Erie, Pa.
- National Federation of Community Development Credit Unions, New York, N.Y.
- FinancialEdge Community Credit Union, Bay City, Mich.
- HEW FCU, Alexandria, Va.
- Holy Rosary Credit Union, Kansas City, Mo.
- New York Credit Union Foundation, Albany, N.Y.
- Travis Credit Union, Vacaville CA.
- Truliant Federal Credit Union, Winston-Salem, N.C.
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. NCUF grantees are frequently highlighted in NCUF “Grant at Work” series, showcasing how the grantees are making a positive impact in their community and empowering consumers to achieve financial independence through credit unions.
*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 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 and 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.