The Community Investment Fund (CIF) Grant’s Committee recently met approving 20 grants totaling $39,000.
The CIF Development Grant Fund is a valuable source and opportunity credit unions can take advantage of to advance their credit union in ways that will benefit them, and in return, allow them to serve their members and community more effectively. Credit unions do not have to be investors to receive a CIF Development grant. However, credit unions who do participate in the CIF investment create a win-win opportunity for themselves and for the industry.
Among the grants awarded last month, nine of the grants are to assist with expenses for various credit union audits including IT, Compliance, ACH, BSA, Supervisory Committee Review, and Member Account Verification. Two of the grants were awarded for credit unions to hold a strategic planning session, and one grant was awarded for a credit union employee to attend Credit Union Development Educator (DE) program, a National Credit Union Foundation program. The National Credit Union Foundation's DE Training allows for the development of Credit Union professionals by providing critical lessons in cooperative principles, credit union philosophy and international development issues.
CIF Development Fund grants also can be awarded for various credit union office and branch needs such as computer hardware and software, equipment, or products and services. This grant cycle awarded 6 credit unions grants for computer hardware and software, a new server, and a new copier. One grant was awarded to assist a credit union implement mobile banking and mobile deposit for its members. Also, another grant recipient is a newly chartered credit union that requested assistance to create a website to better assist their new members.
“I’m proud to say I work in an environment that thinks of others and helps when possible. I’ve been employed in the credit union movement over 30 years now and continue to use our motto of People Helping People,” says Renee Hensley, president of Midwestern State University CU. “That is exactly how I feel about this grant. Cornerstone Credit Union Foundation has always been a great source of help and generosity to credit unions (especially the smaller credit unions.).”
To learn more about grant opportunities available through the Foundation or about CIF investments, please visit www.cscuf.coop.