Page 10 - MCUL: 2020 CU Impact Report

10 CREDIT UNION IMPACT REPORT SPRING 2020

MICHIGAN CREDIT

UNION FOUNDATION

The Michigan Credit Union Foundation (MCUF) $129,000
is a non-profit organization that helps Michigan 51% Community Reinvestment
credit unions better serve their memberships and
communities. The organization is fueled entirely by
cooperative donations from the credit union industry.
$51,000
The three primary ways MCUF assists credit unions 24% Financial Education Programs
is through community reinvestment grants,
financial education initiatives and professional
development support.
$27,000
COMMUNITY REINVESTMENT GRANTS
Funding the development of unique programs 12% Professional Development
designed to assist low-income, underbanked and
underserved areas.
$10,000
FINANCIAL EDUCATION INITIATIVES 5% Financial Counseling Training
Coordinating statewide programs to improve
financial futures for thousands of families and
increase awareness for Michigan credit unions’
financial health initiatives. 59 %

PROFESSIONAL DEVELOPMENT SUPPORT
Improving consumer financial health by providing
credit union professionals increased access to
financial counseling and young professionals
collaborative support.

MCUF’s stamp on the credit union community is a
reflection of the movement in Michigan — every step
of progress we make is the product of collaboration. 5 % 24 %
Credit union funds go toward new and ongoing
initiatives, like student-run classrooms, young
professional groups and home buying seminars. 12 %
MCUF is fueling the movement’s desire to offer
creative and necessary solutions across Michigan.

FINANCIAL EDUCATION INITIATIVES

15 692 6,000 9,000

Credit Union Financial Counselors Teens Reached Youth and Teens
Reinvestment Trained in the Decade Through 81 Educated with Credit
89
Grants with Counselors Financial Reality Fairs Union Money Smart
Trained in 2019. Week Programs