For more information...

...please contact National Program Director Lois Kitsch at lkitsch@ncuf.coop or 800-356-9655, extension 6770.



Apply for a Grant

NCUF Grant Application

Have an innovative idea? Click above or below to open and save the new Innovation Grant application form. Fill it out and return to NCUF by June 30, 2010.
Apply for an Innovation Grant!

NCUF Grant Application Tutorial

Grant-Writing Slideshow

Open or save this PowerPoint to see how to write a competitive grant that will better meet NCUF's criteria.

NCUF Annual Grants Program / Innovation Grants


NCUF GRANT APPLICATION GUIDELINES

TABLE OF CONTENTS (click each to jump to section)
> Introduction
> Grant Project Areas
> Funding Source
> Funding Strategies
> What NCUF Does Not Fund
> Planning Your Project
> Grantwriting Tips
> 2010 Application Deadline
> Review Criteria
> Application Evaluation Process
> Grant Funding Notification
> Grant Period
> Grant Agreements
> Grant Payment Process
> Report Requirements
> Funding Credit


Click here to download these guidelines in Microsoft Word

Introduction


Since 1982, the National Credit Union Foundation (NCUF) has provided tens of millions of dollars in grants to not-for-profit credit unions and related organizations to support its mission to improve consumers’ financial independence through credit unions.

In 2007, in order to reach even more credit unions with mission-critical support, the Foundation adopted REAL Solutions® as its signature program. REAL Solutions empowers credit unions to provide affordable products and services that have proven effective in reaching working families with "low wealth" and modest means.

Through REAL Solutions, credit unions are serving underserved markets and attracting new members. In partnership with state credit union leagues, REAL Solutions by the end of 2010 is projected to help more than 2,000 credit unions in 40 states offer new services to attract more than 250,000 low-wealth members.

Participation in REAL Solutions is not a prerequisite to apply for NCUF grants. However:

The goals of NCUF’s Innovation Grants are now aligned with REAL Solutions.

In striving to reach “low-wealth” families, REAL Solutions seeks an even broader target audience than other efforts focusing solely on “low-income.” Research has shown that the low-wealth market includes not only lower-income consumers, but also consumers with moderate and middle incomes who have been unable to build significant savings or assets.

REAL Solutions aims to help all of these consumers become credit union members, grow savings and accumulate assets that will generate wealth for their families.

The Foundation is seeking to fund innovative projects that will help low-wealth members reach life-changing goals in the following five areas:

Grant Project Areas


Financial Education

Ongoing NCUF grant commitments support credit union participation in national financial education programs including Biz Kid$ and the National Endowment for Financial Education (NEFE). New Innovation Grants can assist credit union organizations participating in these programs, or other initiatives consistent with the financial education components of REAL Solutions: providing financial counseling, product awareness, and staff training.

Transaction Services

Consistent with the membership acquisition services of REAL Solutions, new Innovation Grants can support transaction services that help credit unions attract underserved consumers. Examples include check cashing, money orders, pre-paid stored value cards, remittances, second chance/fresh start checking, and tax preparation.

Savings

Consistent with the savings-building services of REAL Solutions, new Innovation Grants can support programs that help credit union members with low wealth establish and maintain savings. Examples include prize-based savings, safe accounts, savings challenges, and step-up CDs.

Credit

Consistent with the credit-building services of REAL Solutions, new Innovation Grants can support initiatives that help non-prime borrowers build and improve credit through credit unions. Examples include alternative credit reports, citizenship loans, first and last rent loans, flexible loan policies, non-prime used car loans, score builder loans, and thin-file loans.

Homeownership

Consistent with the asset-building services of REAL Solutions, new Innovation Grants can support responsible programs that help credit union members with lower credit scores qualify as first-time homebuyers. Examples include foreclosure assistance loans, green loans, Home Loan Payment Relief (HLPR) mortgages, Individual Taxpayer ID Number (ITIN) loans, and timely repayment rewards.

Funding Source

Funding for the Foundation’s grants comes from the Community Investment Fund. Credit unions interested in social investing make deposits in a designated fund at their corporate credit union. At least half of the dividends are paid directly to the investing credit unions, while up to one-quarter is returned to NCUF to support national initiatives including annual Innovation Grants. Another quarter is granted by NCUF to the league or foundation in each investing credit union’s home state.

With interest rates at record lows this year, NCUF will need to receive funds from more supporters and CIF investors in order to grant at least $350,000.

For more information on investment opportunities with the Community Investment Fund, click CIF.

Funding Strategies

By awarding Innovation Grants, the National Credit Union Foundation makes strategic investments in credit union innovations to serve underserved low-wealth markets. NCUF encourages applications for projects that provide access to affordable financial services in the five areas described above.

Proposals should also have all of the following features:
  • Partnerships with other organizations
  • Leveraged funding from partners and/or other sources
  • Ideas to build membership from the low-wealth market, including plans for marketing and outreach to the targeted population
  • Plans to sustain the project without additional NCUF funding

  • Potential to be replicated by other credit union organizations

What Innovation Grants Do Not Fund

Innovation Grants will not fund:
  • Projects that do not involve credit unions
  • Positions for non-credit union organizations
  • Requests for equipment or technological upgrades
  • Requests for scholarships or tuition to attend workshops, meetings or conferences
  • Requests for secondary capital

Generally speaking, NCUF does not grant its own funds to be deposited into accounts of individual credit union members – such as matching funds for Individual Development Accounts (IDAs).

Organizations that have a current Innovation Grant from NCUF should generally not apply for another Innovation Grant in consecutive cycles unless they demonstrate that they are meeting their success measures.

Planning Your Project

The Foundation’s grants program is competitive. When planning your project, use the following suggestions to guide you. Projects that are well-conceived and proposals that include substantive information have a higher likelihood of receiving funding.
  • Read these guidelines and application form carefully.
  • Seek information on the specific need or problem that your project would address. Be certain to describe the community or target population you intend to serve. Use the information to make the case for funding in Section 2: Statement of Need.
  • Plan your project in collaboration with your partners. Develop project activities and quantifiable success measures. Use this information to complete Sections 3 and 4: Description of Proposed Activities and Measures of Success.
  • Gather descriptive information on your project partners. Use it to complete Section 5: Partner Organizations.
  • Collect information to develop a complete project budget, including projected expenses and potential income from all sources.
  • Notify your state credit union foundation and/or league that you are planning to apply for grant from the National Credit Union Foundation.
  • Use NCUF’s Online Application Tutorial and FAQs to help prepare your proposal.

  • Contact NCUF staff if you have any questions: Lois Kitsch (lkitsch@ncuf.coop) or 800-356-9655, extension 6770.

Grantwriting Tips

To prepare a strong proposal, make sure your project:
  • Meets the goals of the Foundation’s Innovation Grants
  • Has been thoroughly planned with all partners
  • Is clearly described in writing

Remember:
  • Answer all questions in the amount of space provided.
  • Use a readable font or typeface (no smaller than 10 point).
  • Check your project budget carefully to ensure calculations are accurate.
  • If possible, submit your application as a single electronic file: either a Microsoft Word document (.doc) or an Adobe portable document file (.pdf).


    • Your grant reviewers will thank you!

2010 Application Deadline

Annual deadline for Innovation Grant applications: June 30, 2010

To be eligible, applications must be sent via e-mail by close of business on Wednesday, June 30, 2010. Late, incomplete, or faxed applications will not be considered.

Review Criteria

Applicants must use the National Credit Union Foundation’s application form and submit their proposals electronically by the June 30 deadline.

Your application's Executive Summary should answer the following 8 questions from Innovation Grant reviewers:
  1. How many National Credit Union Foundation grant objectives does your project meet?
     Providing Financial Education
     Facilitating Transaction Services
     Building Savings
     Establishing Good Credit
     Empowering Homeownership

  2. What is the extent to which your project will impact the state, community, and/or targeted population?

  3. Do you have the capacity (both human and financial resources) to successfully implement your project?

  4. What are the roles of credit unions, state credit union leagues, foundations, and/or other credit union support organizations in your project?

  5. Are you engaging other partners (such as community groups, schools, government agencies, or other funders) to help plan, support, and/or implement your project?

  6. Do you plan to leverage additional funds, or have you already received other funding commitments for your project?

  7. How do you plan to continue your project after the National Credit Union Foundation’s one-year grant has ended?

  8. How do you plan to evaluate your project after it has been completed?

Application Evaluation Process

Applications will first be reviewed for completeness by Foundation staff. In July and August, panels of Foundation staff and experts from the credit union field will evaluate the applications using the Review Criteria above. Each application will be scored by multiple panelists. Panel scores will then be averaged so the pool of applications can be ranked by total average score. Applications, average scores, and panel comments will be sent to the National Credit Union Foundation’s Grants Committee, which has responsibility for reviewing the applications and making funding decisions.

Grant Funding Notification

The National Credit Union Foundation’s Grants Committee will meet in September to evaluate proposals and make funding decisions. Applicants will be notified about funding decisions by September 30, 2010. This will enable grant recipients to budget for their grant dollars to be received in 2011.

Grant Period

The grant period will run from January 1, 2011, through December 31, 2011.

Grant Agreements

National Credit Union Foundation staff will work with each successful applicant to prepare a Grant Agreement setting forth mutually agreed-to success measures based on the approved grant proposal. Each applicant must return two copies of the signed Grant Agreement to NCUF to activate their grant. A Foundation representative will sign both copies and return one to the grantee for their files.

Grant Payment Process

The National Credit Union Foundation disburses each grant in three payments, as stipulated in the Grant Agreement. A typical schedule of payments might be:
  • NCUF will disburse the first grant payment (50%) to the grantee upon receipt of the signed Grant Agreement. This initial payment will likely take place in the first week of January in the year after the grant was approved.
  • A second installment (25%) will be disbursed after receipt of a satisfactory Mid-Year Progress Report documenting progress toward the success measures outlined in the application and Grant Agreement.
  • The third and final grant payment (25%) will be disbursed at the conclusion of the grant period.

  • A Final Achievements Report will be due during the month after the final payment.

Report Requirements

All grantees are required to submit a Progress Report mid-way through the grant period and a Final Achievements Report shortly after the conclusion of the grant period. Each report must specifically address the Measures of Success outlined in the application and codified in the Grant Agreement. Grant payments will be based on satisfactory progress on the project as described in the reports.

Along with the reports, NCUF encourages grant recipients to provide copies of marketing materials, photographs, articles, and other information related to promotion and execution of their project. NCUF regularly features Innovation Grant highlights in its annual report, websites, educational presentations, fundraising materials, and other NCUF-funded programs.

Funding Credit

Successful applicants must mention the National Credit Union Foundation’s grant in all press releases, newsletter articles, and website references related to the grant project. A suggested credit line is the following: “This project has received national recognition through an Innovation Grant from the National Credit Union Foundation.” If the project is referenced on the grantee’s website, a link to the NCUF website (www.ncuf.coop) should be included.

Please understand that unless substantially more credit unions invest in the Community Investment Fund, NCUF does not have the resources to fully fund every grant proposal. By submitting a grant application, you will agree not to lobby NCUF volunteers or otherwise circumvent the grant evaluation process. In the event your proposal is not funded or only partially funded, you will be expected to abide by NCUF's final funding decision.

Thank you for your interest in applying for a grant from NCUF. We hope to be able to support your initiative.