New Investment Option Added for Community Investment

Christopher Morris
608-231-4374 |

Madison, Wis. – Credit unions now have another way to support the National Credit Union Foundation (NCUF) in the Community Investment Fund (CIF) with National Cooperative Bank (NCB) thanks to a new 2-year certificate of deposit (CD) investment choice.

CIF with NCB is a relatively new CIF option thanks to a strategic collaboration between NCB and the National Credit Union Foundation.

Unique Features of CIF with NCB

CIF with NCB is very similar to the traditional CIF through the corporate network but has some unique features. Contribution levels to NCUF and state credit union foundations (SCUFs) can be 50%, 75%, and 100% of the interest earned on the account. Also, while NCB is a cooperatively owned financial institution, there is no requirement for credit unions to purchase stock in NCB.

Credit unions opening a CIF deposit account at NCB can designate 50%, 75% or even 100% of the interest income earned on the account to be automatically donated to NCUF in support of national and state-level community development programs.

In addition to the new 2-yr CD option, products offered currently in CIF with NCB include CDs with terms of 6-mo, 12-mo, 18-mo, 3-yr, and a liquid Money Market Deposit Account (MMDA) – all at competitive rates of interest. More on CIF with NCB products and rates:

As a federally chartered savings bank, deposits at NCB are FDIC-insured up to $250,000 per Tax ID.

How Does CIF Work?

The Community Investment Fund gives credit unions the ability to leverage their investments to support innovative credit union programs. CIF allows half of the dividend income to be returned to investing credit unions. The other half is donated to NCUF. In turn, NCUF disburses its half of the CIF dividends accordingly:

  1. When credit unions designate NCUF & State Credit Union Foundations (General Fund) NCUF grants half of its donated 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:
  2. Credit unions can also designate their investment in one of the following funds:
  • Credit Union Development Education Fund
  • Pete Crear Fund
  • International Development Fund
  • Callahan Legacy Fund.

More Information:

CIF with NCB:



About the National Credit Union Foundation (

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.


About NCB ( 

NCB, FSB (NCB) is a federally chartered thrift and a wholly owned subsidiary of National Consumer Cooperative Bank, a US government-chartered, member-owned cooperative corporation. Acquired in 1988, NCB has grown from a $9 million community savings bank into a national cooperative financial services company with more than $1.6 billion in assets.

NCB enables cooperative endeavors to grow and succeed. These enterprises are large and small. They serve rural and urban communities. They affect our lives everyday. NCB helps them by crafting financial solutions and delivering banking services tailored to their individual needs.

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