From the Archives: September 2012

MCUF Grants and Scholarships Still Available, Exchange City Fundraising 

MCUF Helps Many; Grants and Scholarships are Still Available for 2012
The Michigan Credit Union Foundation has already awarded $67,287 as of Aug. 31 this year with scholarships to 198 credit union professionals and with grants to ten credit unions. This year’s support has included three full scholarships to the CUNA Management School and training for the 59 Michigan participants in the Certified Credit Union Financial Counseling Program. 

Two Community Reinvestment Initiative grants have been awarded, one to Trenary Cooperative FCU for a financial education outreach project and one to Christian Financial CU for a community small business launch pad event. MCUF Executive Director Beth Troost, reports that the MCUF’s 2012 plans include supporting credit union social mission activities through CRI grants. “The MCUF is pleased to support these activities which are good examples of the many community building outreach activities Michigan credit unions engage in regularly; providing local support that helps strengthen the financial well-being of their communities and collectively, the of the entire state,” Troost said.  

Opportunities are still available this year for additional CRI Grants which are awarded to credit unions or chapters for financial education activities, community-based work or to expand credit union community partnerships. Suggestions for activities and a CRI grant application can be found on this page of the MCUF website

MCUF funding for employee educational scholarships for small asset-sized credit unions is also still available this year, click here for more information.

As a 501(c)(3) nonprofit, the MCUF is able to provide these grants and scholarships with the support of donations from credit unions, chapters and credit union system supporters. With a goal of widespread involvement and impact, the MCUF aims to involve all Michigan credit unions and chapters in the foundation, both as beneficiaries of funding and as financial supporters. Donations are also encouraged from individuals and credit union partner organizations. So far this year, $60,119 has been donated by 83 credit unions, chapters and system supporters and additional donations are needed to reach our goal of raising and providing $90,000 in support to Michigan credit unions. Help the MCUF reach that goal by making a donation using this link.

Exchange City Starts New School Year, CU Support Needed
MCUL is now gathering credit union contributions to support Exchange City as the program gears up for a new school year. An annual pledge to Exchange City enables the operation of the Exchange City CU, an integral part of the dynamic hands-on learning experience. Through the Exchange City CU, students, their teachers and their parents get the important message that a credit union is a primary and trusted source of financial services. Contributions by individual credit unions, chapters and the MCUL are now being collected and an aggregate contribution will be given to Exchange City later this month. Michigan credit unions are encouraged to be a part of this support by sending a contribution along with the Exchange City pledge form this month.

This social studies and economics-based program allows students to become business people, elected officials and citizens in their own mini-town. Students and teachers prepare for their roles with in-depth classroom curriculum that includes learning how to utilize credit union services prior to their visit to the Exchange City facility in Taylor. During their full-day simulation visit, students run businesses, apply for credit union loans, create and sell products, receive paychecks and work to pay off their loans. Students from a wide area of Michigan including Grand Rapids and Flint visit Exchange City each school year.

Exchange City Executive Director Stacey Mehler was a special guest at MCUL’s Financial Education Council’s meeting in August where she shared exciting plans to expand operations later this school year to include a new mobile “Enterprise City in Your School” program which will enable it to reach to schools that are unable to travel to the facility. See a video about the Exchange City CU and learn more about the MCUL’s partnership on the Exchange City page of the MCUL website.

All credit unions that provide a donation will be recognized as a sponsor in signage at the Exchange City facility and participating credit unions will be able to provide marketing messages to parents, teachers and students when schools within your membership area attend Exchange City. To make a donation use this form.

For more information, contact MCUL financial education coordinator, Troost at or (800) 262-6285, ext. 453.

Federal and State regulatory Issues

Previous Issues

Search Priority Report

MCUL Publications