NCUA Guarantees New 2-Year Community Investment Fund CDs

Click to see how CIF works!
ALEXANDRIA, Va. (5/21/09)—Shareholders in the Community Investment Fund (CIF) now have the opportunity to triple their dividends while securing a full federal guarantee for the next two years.
NCUA is the federal regulator and insurer of America's credit unions.The National Credit Union Administration (NCUA) will guarantee all principal and quarterly fixed-rate dividend payments on new two-year certificates of deposit (CDs) in CIF.

Earn Dividends While Donating to Charity

CIF allows members of corporate credit unions to earn dividends while donating to credit union charitable organizations – without creating an expense on the donors’ balance sheets.

Cut Costs of Corporate Stabilization

What’s more, new deposits in CIF will help reduce all credit unions’ expenses for NCUA’s Corporate Stabilization Program.

Support Critical Programs & Grants

Steve Bosack, Deputy Director, National Credit Union Foundation“We commend NCUA for taking action to offer credit union investors an attractive new option to earn federally guaranteed dividends while donating to credit union charities,” said National Credit Union Foundation Deputy Director Steve Bosack.

“Increasing deposits in the Community Investment Fund will provide critically needed programs and grants to more credit union members across America.”
  • National Programs & Grants

    Half of CIF dividends are donated to the National Credit Union Foundation.

    NCUF dedicates half of those donations to fund national programs including:

  • REAL Solutions
  • Credit Union Development Education
  • Innovation Grants
  • Biz Kid$
  • CUAid
  • State Programs & Grants

    NCUF grants the other half of CIF donations to each investor’s state credit union foundation or league.

    State credit union organizations use their CIF grants for a wide variety of charitable activities:

  • Financial Education
  • Training
  • Credit Union Membership Outreach
  • Small Credit Union Development
  • Affordable Housing
  • Disaster Relief
  • and much more...
  • Join the Award-Winning Community Investment Fund

    CIF earned this award from the Association of Fundraising Professionals.CIF provides about two-thirds of revenues for NCUF and many state credit union foundations.

    Recognizing CIF’s unique structure and widespread impact, the Association of Fundraising Professionals honored CIF with its Award for Fundraising Excellence.

    The federally guaranteed two-year CD is the first new national product designed for CIF since 2003.

    CIF Share Accounts Are Also Guaranteed

    For investors with tight liquidity, CIF is also available in special S-115 share accounts at corporate credit unions.

    NCUA will guarantee all principal and variable-rate dividend payments in CIF share accounts throughout the course of NCUA’s rolling guarantee program.

    Shareholders: Triple Your CIF Dividends

    Taking advantage of today’s steep yield curve, share account holders can more than triple their dividends by transferring to fixed-rate CIF CDs (C-40 accounts at corporate credit unions).

    90-Day Notice Waived When Transferring to CIF CDs

    Normally, CIF share account holders are required to give 90 days notice before withdrawing.

    But NCUA has authorized corporate credit unions to waive the 90-day notice requirement when share account holders transfer directly to CIF CDs.

    Longer-Term CIF Options Still Available

    The other two CIF options are three-year CDs and five-year CDs.

    Both offer higher dividends than the new federally guaranteed two-year CIF CDs because their longer terms stretch beyond NCUA’s current guarantee program.

    Interested? Contact Us!

    Credit unions interested in the latest rates or CIF investment options can contact a corporate credit union, their state credit union foundation, league, or NCUF:
    Josie Collins, Resource Development & Donor Relations Director, National Credit Union FoundationJosie Collins

    NCUF Resource Development & Donor Relations Director

    jcollins@ncuf.coop

    800-356-9655, extension 4397

    About the National Credit Union Foundation:

    NCUF is the primary national charitable and fundraising organization for America’s credit unions.

    Since 1980, NCUF has provided tens of millions of dollars worth of grants and programs supporting its mission to “promote and improve consumers’ financial independence through credit unions.”
    Click here to see how NCUF programs work!
    Click to see BBB's report on NCUF.
    NCUF has consistently earned and maintained the Better Business Bureau seal of approval as an accredited charity.

    NCUF continues to meet all 20 Wise Giving Alliance Standards for national charities.

    Click here to see the Better Business Bureau's report on the National Credit Union Foundation.