What if individuals from my credit union do not automatically qualify for educational scholarships?
For consideration, please forward a written explanation of what educational opportunity you are pursuing, why it is of special importance to your career or professional developement at this time and any other additional information that will help establish a determination. This information will be forwarded to the Trustees for a decision, usually within three weeks.
What if applicants from my credit union have used all of the automatically approved scholarship dollars this year and would like special consideration for additional funds?
If you feel that your need for additional funds to attend an educational opportunity is a unique situation that requires additional consideration due to a great need or extraordinary situation, we would be glad to accept additional information from you to present to the Trustees. Simply forward a written explanation of what you are pursuing, why it is of special significance at this time, and any other additional information that will help establish a determination. This information will be forwarded to the Trustees for a decision, usually within three weeks.
How are exceptions to the criteria for scholarship eligibility determined?
The Trustees take into consideration the history of scholarship requests/approvals, the applicant´s credit union’s financial situation – such as if the credit union is financially sound, the recommendations made for the proposed education by an outside source, and the value of the particular educational subject matter to the credit union’s situation. League Consultants are often involved in the research process.
Is my donation tax deductible?
Donations made to the Michigan Credit Union Foundation [a 501(c)(3)] or the National Credit Union Foundation are tax deductible when applicable by law. Seek advise from a licensed CPA, to be certain.
Can I nominate the same individual or credit union more than once?
The Credit Union Community Volunteer Award and the International Credit Union Development Award automatically include a one-time nomination to be considered for three consecutive years. The information may be updated and added to each year. After the three year period, a new nomination form/packet must be submitted for the same individual or credit union.
Are Power For Just Pennies awards given if a credit union donates $1,000 or more in combination between The Michigan Credit Union Foundation AND The National Credit Union Foundation?
Yes. Because the Michigan Credit Union Foundation (MCUF) strongly supports the National Credit Union Foundation, The MCUF recognizes a Power For Just Pennies Award for donation support of $1,000 or more in combination of the two Foundations.
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Regulatory Affairs
