ICU Foundation provides more than $66K in grants

September 18, 2015

NAPERVILLE, Ill. (9/18/15)--The Illinois Credit Union Foundation (ICU Foundation) announced this week that it has made available $66,000 in grants and scholarships geared to support various aspects of the state’s credit union movement.

A dozen credit unions will receive a share of $22,000 from the foundation in the form of Small Credit Union Development grants. Grant recipients  can use the funds to bolster hardware and software resources, which serve as key pieces of a credit union’s operations, according to the Illinois Credit Union League.

The credit unions to receive the grants are:

  • Champaign (Ill.) Postal CU;
  • Decatur (Ill.) Policemen CU;
  • Decatur (Ill.) Postal CU;
  • Elgin (Ill.) Mental Health Employees CU;
  • NIU Employees CU, DeKalb;
  • Oak Lawn (Ill.) Municipal Employees CU;
  • Parish Members CU, Metamora;
  • Park Manor Christian Church CU, Chicago;
  • Peoria (Ill.) City Employees CU;
  • Peru (Ill.) Municipal CU;
  • St. Jude CU, Chicago; and
  • Urbana (Ill.) Municipal Employees CU.

Eight credit unions, meanwhile, will share a $4,000 ICU Foundation Community Service grant. The grants are designed to encourage and reward efforts to support the local community. With the grant money, the credit unions will hold food drives, support local charities, provide financial education and host shred days.

The credit unions receiving the community service grants are:

  • Altonized Community FCU, Alton;
  • Blackhawk Area CU, Savanna;
  • DuPage CU, Naperville;
  • Education Personnel FCU, Danville;
  • Heights Auto Workers CU, Chicago Heights;
  • Landmark CU, Danville;
  • R.I.A. FCU, Savanna; and
  • South Division CU, Evergreen Park.

Finally, three credit unions will split $4,500 in the form of Business Development grants. The funds will be used to support outreach efforts such as relevant educational opportunities and online lending programs.

  • The recipients are:
  • Peru Municipal CU; and
  • Rockford (Ill.) Bell CU.

The remaining funds, roughly $35,000, have been awarded as scholarships.