NCUF Approves 15 Financial Education Grants for 2011

Programs will allow more consumers to achieve financial freedom.

December 23, 2010

The National Credit Union Foundation’s (NCUF) board of directors recently approved 15 new grants for 2011, totaling $294,510. All of the grant projects have a financial education component.

“At the Foundation strategic planning meeting a few months ago, we decided to make financial education a priority in 2011,” says Bucky Sebastian, NCUF executive director. “Financial education has long been a part of the Foundation’s and REAL Solutions’ mission. It’s also vital to the success of credit unions and consumers nationwide.”

The grant projects range from youth financial education in and outside of school to a variety of different types of financial counseling and coaching. Some highlights:

• Mid-America Credit Union Association, Bismarck, N.D., will provide financial education to participants in the Women, Infants and Children Nutrition Program (WIC) on the dangers of payday lenders. This will also provide safe credit union alternatives to payday lending and increase awareness of credit unions in the Dakotas.

• Metro Credit Union, Chelsea, Mass., will develop and implement one-on-one financial coaching provided by corporate volunteers who will assist low income households to identify and follow a path to financial stability and mobility.

• Texas Credit Union League will implement statewide financial reality fairs utilizing social media to enhance student participation, deliver financial education, and track the impact social media has on financial literacy of young people. The fairs will increase knowledge and awareness of credit unions, financial tools, credit knowledge and credit union accounts for students 13-18 years of age.

• Credit Union Foundation of MD & DC will expand “The Millionaires Club,” a high school level, self-sustaining, after-school club in four select pilot expansion locations. The club’s goal is to improve personal financial skills among high school students by providing them basic financial education they can place into practice both immediately and during their financial maturation processes.

Other credit union organizations receiving grants include:

  • Alternatives Credit Union, Ithaca, N.Y.;
  • Filene Research Institute, Madison, Wis.;
  • Hill District Credit Union, Pittsburgh;
  • Iowa Credit Union Foundation, Des Moines;
  • Millstream Area Credit Union, Findlay, Ohio;
  • Montana Credit Unions for Community Development, Helena;
  • National Federation of Community Development Credit Unions, New York City;
  • New York Credit Union Foundation, Albany;
  • New York University Credit Union, New York City;
  • Texas Credit Union Foundation, Farmers Branch; and
  • University of Virginia Credit Union, Charlottesville.

NCUF Grants are made possible by supporters of the Foundation and the Community Investment Fund, an award-winning system of investments that help credit unions earn dividends while donating to national and state community development programs.