NAPERVILLE, Ill. (5/12/14)--The Illinois Credit Union Foundation has been on a tear of late, awarding nearly $52,000 in grant funding to state credit unions through their various grant programs.
The grants committee--for this first round of grants for 2014--delivered $27,900 in small credit union development, community service, and marketing and business development grants in the first quarter, and $24,075 in scholarships.
Broken down, the foundation handed out the bulk of its grant funding in the form of small credit union development grants, totaling $22,250 spread among 14 Illinois credit unions.
Five community service grants, created by the league to encourage participation in local community projects, were also awarded, totaling $1,150 among four credit unions and one league chapter.
Applicants for grants qualify by hosting or volunteering at an established event, or developing their own event.
Finally, four credit unions received marketing and business development grants worth a combined $4,500. The grants were formed in 2006 to assist credit unions with assets of $30 million or less to start or expand their outreach efforts.
The next grant request deadlines are July 31 and Oct. 31. Scholarships are reviewed on an ongoing basis and awarded as funds permit.