Fin. ed., professional development focus of Minn. foundation grants

December 4, 2014

ST. PAUL, Minn. (12/5/14)--In 2014, the Minnesota Credit Union Foundation provided more than $22,000 in financial education and professional development grants.

Each year the foundation commits more than 50% of its budget to fund financial education grants that positively affect credit union members and communities. Another 25% funds professional development opportunities for credit union staff and volunteers to continue their education and sustain the credit union movement.

Among the projects the foundation funded:

  • US FCU, Burnsville, with $970 million in assets, received funding for a program to establish a financial coaching program to increase the financial capability of low-income Minnesotans through education and the introduction to and use of credit union products and services;
  • Catholic United Financial CU, St. Paul, with $18 million in assets, received grant funding to continue its senior-focused identity theft awareness seminars offered at churches around the state;
  • Collegeville Community CU, St. Joseph, with $11 million in assets, established a student-run branch on the campus of St. John's University;
  • Ideal CU, Woodbury, with $567 million in assets, used foundation grant funding to provide incentives to students who successfully completed its peer-to-peer financial education seminar series;
  • Anoka Hennepin CU, Coon Rapids, with $143 million in assets, will use a foundation financial education grant to create a free youth checking account with financial education ties to help prepare participants for college;
  • Cook Area CU, with $28 million in assets, will expand financial education efforts in northern Minnesota by establishing a student-run credit union at a second kindergarten-grade 12 school; and
  • Wakota FCU, South St. Paul, with $22 million in assets, the St. Paul Farmers Market and FriendChip Farm have partnered to promote food, fitness and financial wellness through a new community impact program with the assistance of foundation funding.

Also, the foundation provided more than 20 professional development grants totaling just under $7,500 across the state, which enabled staff and volunteers to attend educational events.