MCUF Grants Help CUs Increase Impact
Credit unions are being encouraged to apply to the Michigan Credit Union Foundation by June 30 for financial education and community reinvestment initiative grants ranging in value from $100 to $20,000.
MCUF is making funds available to help credit unions build stronger communities through addressing community problems, creating sustainable solutions and by helping to increase local reinvestment, financial education initiatives, partnerships and more.
MCUF Executive Director Beth Troost says she encounters many people who have an aversion to applying for grants. They automatically believe it’s a drawn out and complicated process.
"Applying for and utilizing a MCUF grant is easy," Troost says. "The project does not need to be long or complicated and all it takes to start the process is a personal conversation to explore the idea of funding."
MCUF grants can be used to implement unique credit union initiatives or partnerships, or to replicate or expand on existing saving, lending and educational programs to help community members. MCUF has developed an informational flyer with examples and suggestions for community reinvestment projects such as conducting community “credit check-ups,” expanding financial education activities and enhancing non-prime auto lending. Requests for funding to assist families and small businesses in low-income, underbanked or underserved areas are especially encouraged by the MCUF.
Funded by donations from credit unions, chapters and businesses, MCUF works cooperatively to help credit unions thrive and serve Michigan communities through financial education, community reinvestment and professional development support. The current MCUF grant cycle applications are due June 30. For more information or to get started, contact Beth Troost at (800) 262-6285, ext. 453, or learn more about donating or applying for funding here.