The Community Investment Fund (CIF) Credit Union Development Grants give credit unions a valuable opportunity to advance and enhance their efforts, and in return serve their members and the community more effectively. The CIF Grants Committee recently met and approved 27 grants totaling $40,700.
Among the needs filled for grants awarded, credit unions will install branch office and security equipment, purchase ATMs, implement system conversions and upgrades, and convert to EMV cards. Credit unions also continue to take advantage of necessary audit assistance, including IT and cybersecurity audits.
Electric Cooperatives FCU received assistance to implement an electronic signature program for loan and account documents, specifically remote/encrypted signature capture.
“Our credit union growth is made possible through the increased quality of service we are able to provide through e-signatures," said Betty Chandler, CEO of Electric Cooperatives FCU. "It has provided almost instant access to loan documents for our members who reside across the state. Members appreciate the improved technology, as well as the ease and timeliness of document receipt and processing. Our loan process is now completed very quickly.”
To learn more about grant opportunities available through the Foundation or about CIF investments, please visit cscuf.coop.