National Credit Union Foundation announces $100k grant to support credit union diversity and financial health
MADISON, WI (October 7, 2021) — The National Credit Union Foundation (the Foundation) has announced a $100,000 grant to help smaller credit unions analyze membership demographics and better understand the roles culture, race and ethnicity play in financial well-being.
The grant will be split among multiple credit union recipients, giving them access to industry-leading programs, data analysis and consultation provided by Attune and Coopera, two organizations leading the charge for multicultural inclusion and financial health.
“The persistent financial inequities faced by people of color have been laid bare over the last few years,” said Gigi Hyland, executive director of the National Credit Union Foundation. “Credit unions were founded to support those most in need but to do so effectively, they need to understand who their members are. This grant will open up that opportunity for credit unions that could otherwise be unable to allocate the human and financial resources.”
Successful applicants will have the opportunity to use two of Coopera’s inclusion tools: the Ethnicity Segmentation Analysis to track membership demographics, and the Hispanic Opportunity Navigator, which assesses a credit union’s readiness to serve Latinx communities and provides a roadmap to success. In addition, grant recipients can partner with Attune to measure employee and member financial health and receive data-driven insights to steer strategic planning and product development.
Coopera CEO Victor Corro added, “An effective deep inclusion strategy needs to be based on data analytics to truly include the most vulnerable and financially excluded consumers. Coopera is honored to support those credit unions looking to go beyond the dialogue and get to the action in diversity, equity and inclusion through data.”
John Thompson, co-founder and president of Attune, said, “In order to address the problems of financial well-being, credit unions need to first understand where members and staff are at in their individual financial well-being journey. We’re excited to bring the power of the Attune measurement platform to bear, enabling more credit unions to improve financial well-being for all.”
Credit unions composed of 10 or more employees with assets between $100 million and $600 million are eligible to apply for the grant.
Full grant and application information is available here. Applications must be sent to Traci O’Neill by close of business, Friday November 5, 2021.
- The National Credit Union Foundation (the Foundation) is the charitable arm of the U.S. credit union movement, serving as a catalyst to improve people’s financial lives through credit unions.Through the Foundation’s own means, grants program and commitment to impactful partnerships, they provide research, insights and tools to ignite understanding in credit unions – helping place employee, member and community financial well-being at the center of a credit union’s strategy.Visit ncuf.coop to learn more.
- Coopera (ko-pair-ah) means “cooperate” in Spanish. It is a full-service multicultural analytics and consulting firm. Their dedicated multicultural and multilingual personnel work closely with credit union clients across the U.S. to assess their needs and create growth strategies designed to increase multicultural membership, revenue growth and loan volume. Their solutions also support other organizations in need of cultural change and a deeper understanding of underrepresented market segments poised for growth and opportunity.Visit cooperaconsulting.com to learn more.
- Attune is a part of the Financial Health Network. By automating the data collection and analysis of financial health, they empower companies to easily integrate the financial health of their stakeholders into business intelligence; helping innovate and address needs faster.Visit finhealthnetwork.org/tools/attune/ to learn more.
About National Credit Union Foundation
The National Credit Union Foundation (The Foundation) (ncuf.coop) is the charitable arm of the U.S credit union movement, serving as a catalyst for change in people’s financial lives. The Foundation works to ignite understanding and focus on member financial health, inspire and create opportunities for credit unions to leverage their cooperative values and respond quickly when disaster strikes. Through cooperative support and action, the Foundation helps people achieve financial freedom.