Financial Education Grants |
Important News for the 2013 Annual Grant Cycle |
| | UPDATE: At the January 24, 2012 NCUF board meeting, the board voted to refresh the Foundation’s annual grant program in order to make a bigger impact. Instead of making a number of smaller grants for different projects, the Foundation will make one large grant in support of one replicable project around financial education. Details are being finalized by the NCUF Grants Committee and an announcement will be made in the spring. |
 From mid-April through late June (approx.), the National Credit Union Foundation accepts applications for grants from credit unions, credit union service organizations, state credit union foundations / leagues, and other credit union-owned organizations. |
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NCUF funds innovative projects that help improve the financial capability of American families. |
| | 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 Financial Education 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, building employee and member financial capacity through savings challenges and other wealth coaching programs, experiential learning programs such as reality fairs and poverty simulations, after school financial education programs, product awareness, and staff training. |
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| How Many Grant Dollars Will Be Available? | | NCUF Grants are made possible by supporters of the National Credit Union Foundation and members of corporate credit unions who invest in the Community Investment Fund (CIF).
The dollar amount available for grants each year will depend largely on how much credit unions invest in the CIF.
Another key factor is interest rates. When short-term rates are below 4%, the National Credit Union Foundation receives a much lower portion of CIF returns. In 2011, with rates at record lows, NCUF will need to receive funds from more supporters and CIF investors in order to grant at least $300,000. Click here to learn more about CIF. |
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| | | The National Credit Union Foundation’s board of directors recently approved 19 new grants for 2012, totaling $287,387. All of the grant projects have a financial education component. According to a Financial Literacy Survey of adults last year from the National Foundation for Credit Counseling, Inc., 34% of respondents, or nearly 77 million people, gave themselves a grade of C, D or F in personal finance skills. 78% agree that they would benefit from advice and answers to everyday financial questions from a professional, and nearly one-third (31%) strongly agree.
“The need for financial education is still critical in America,” said Tom Candell, National Credit Union Foundation (NCUF) Deputy Executive Director, COO/CFO. “This is the 2nd year in a row that NCUF is focusing exclusively on financial education in our grants which will ultimately help more people achieve financial freedom.” |
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