National Credit Union Foundation announces 2023 grant recipients

MADISON, WI (January 6, 2023) — The National Credit Union Foundation (the Foundation) has announced the recipients of two grant programs which will provide opportunities for credit unions to offer financial coaching and combat hunger in their local communities.

Ten credit unions received the financial coaching grant, a total value of $120,000, which will give them access to the Pathways to Financial Empowerment program, led by Inclusiv and Neighborhood Trust, and Inclusiv’s Financial Empowerment Learning Center training to help them integrate financial coaching into their operations. The credit unions are:

“We are excited to work with this diverse group of credit unions to build high-impact financial coaching programs,” said Ann Solomon, SVP at Inclusiv. “We’re building a nationwide network of coaches who are committed to improving financial well-being for all and following the same playbook. The potential for system-wide impact is huge.”

Four credit unions have also received $10,000 each to enhance or establish a sustainable financial well-being program focused on addressing the issue of hunger. They are:

“Our grants are a unique way we aid credit unions in their efforts to support the financial well-being of their members, employees and communities,” said Chad Helminak, Chief Impact Officer at the Foundation. “These grant programs eliminate the financial barriers to evolving our services and bettering how we can solve for the problems facing those we serve.”

Throughout 2023, the Foundation will host regular check-ins with the recipients of both grants. Further information on the individual grant programs is available on the Foundation’s website.

About National Credit Union Foundation

The National Credit Union Foundation (the Foundation) is the charitable arm of the U.S. credit union movement and works as a catalyst to improve people’s financial lives through credit unions. Through grants and programs, the Foundation is strengthening financial well-being, igniting passion, and instilling knowledge about the credit union difference, and uniting resources to help credit union people during disaster. Donations to the Foundation ultimately enable credit unions to help their members reach life-changing goals and achieve financial freedom.

Inclusiv
Inclusiv’s mission is to help low- and moderate-income people and communities achieve financial independence through credit unions. Inclusiv has nearly 500 member credit unions that serve more than 18 million residents of low-income urban, rural and reservation-based communities across the US and hold more than $255 billion in community-controlled assets. By providing capital as a certified CDFI intermediary, making connections, building capacity, developing innovative products and services, and advocating with and for its member community development credit unions, Inclusiv transforms local progress into lasting national change. Founded in 1974, Inclusiv is headquartered in New York, NY, with offices in Madison, WI, Atlanta, GA and Albuquerque, NM.Learn more: inclusiv.org

Financial Empowerment Through Coaching grant
The Foundation grant will pay for up to ten credit unions to implement Inclusiv and Neighborhood Trust Financial Partners’ Pathways to Financial Empowerment program. In addition, it will pay for up to two members of staff from each successful credit union to enroll in Inclusiv’s Financial Empowerment Learning Center training.Technology, training, and the practice of financial coaching will be the three main elements of the grant, spanning a 21-month period.
Pathways to Financial Empowermentprogram
Inclusiv launched the program in 2015, in partnership with Neighborhood Trust Financial Partners. The program integrates financial coaching into credit unions operations to improve financial well-being. Pathways supports credit unions to provide best-practice financial coaching and leverage technology to streamline coaching delivery, relationship management, and measure impact on financial well-being and product use over time. Pathways has a strong track record of improving participants’ financial well-being: 61% of participants improved credit scores, with an average improvement of 49 points.Learn more: inclusiv.org/initiatives/financial-empowerment

Press