MCUF Support Focuses on Grants, Reality Fairs in 2015
The Michigan CU Foundation is working to help credit unions reach further into communities in 2015 by focusing additional resources on assisting credit unions with social mission initiatives including financial education and community reinvestment activities. These key funding initiatives plus targeted professional development scholarships and grants can assist small credit unions in the many ways:
The MCUF supports small-asset-sized credit unions though operational grants of up to $2,000 each for technology and operations-related expenses and upgrades that will assist in serving members. Operational grant funds are limited and provided on a first-come basis; interested credit unions are encouraged to apply early in the year.
MCUF Financial Education Fairs
The MCUF will ramp up efforts to work with credit unions and chapters to host hands-on financial learning experiences in their communities by providing funding, materials and training for high-impact events.
Financial Reality Fairs, designed for teens and young adults, have garnered tremendous exposure in the media, with lawmakers and in communities. In a Financial Reality Fair, students simulate living on their own in the real world. Teens actively discover for themselves the choices that will affect their financial future as they make decisions on expenditures for food, rent and leisure activities while trying to keep a balanced budget.
Route Your Retirement Fairs are targeted to individuals of all ages and assist working adults to better prepare for retirement. The interactive event is designed to help adults think carefully about the type of lifestyle they would like to pursue in retirement and then link it to their financial planning for retirement.
Community Reinvestment and Financial Education Grants
In 2015, additional grant funding will be available to help with your financial education and community reinvestment initiatives, especially those assisting underbanked, low-income households or underserved areas.
Because attracting and retaining top talent is a priority for most credit unions, MCUF will continue to support credit union staff training which can lead to higher levels of service, engagement and retention. MCUF will provide expanded scholarships for new CEOs as well as scholarships for financial counseling training, CUNA Management School and NCUF’s Credit Union Development Educator training.
MCUF is fueled by donations from credit unions, chapters and vendors, and allows credit unions to make a difference together, which has led to the state’s residents having strong trust in credit unions. Small-asset-size credit unions are encouraged to support as well as take advantage of MCUF programs. This is an important way to embrace the principles of cooperation among cooperatives, social responsibility and ongoing education.
To learn more about the initiatives that MCUF is supporting, to donate or to apply for programs, visit www.mcuf.mcul.org.