The National Credit Union Foundation (the Foundation) Board of Directors has approved 8 grants totaling $75,000 to help credit union organizations document and measure the impacts of their products and services on member and employee financial health.
In 2017, the Foundation funded six credit unions to measure the financial health of their members, using the Center for Financial Services Innovation (CFSI’s) financial health segmentation methodology. The aggregate data showed that more than half (58%) of members in the total credit union sample are struggling financially, highlighting a significant opportunity for credit unions to help their members better spend, save, borrow, and plan.
The purpose of these grants is to help credit unions build upon this work by supporting their initiatives to measure and document these efforts specifically in the Save, Spend, Borrow, and Plan categories.
A few grantee project highlights include:
Other credit unions receiving grants include: