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Financial Education Foster Youth Grant Funding Opportunity launched June 15, 2024. Apply now!
Impact and Opportunities
Request for Proposals starting June 15, 2024: Youth in Foster Care Financial Education Grant. Program support for credit unions fostering financial security and independence for children in foster care.
Grant funding opportunity: The Foundation has $173,000 in available funding for credit unions of any asset size that have a desire to build programs designed to support children in foster care by establishing basic knowledge in budgeting, credit, and banking solutions.
Eligible credit unions will have the ability to open savings accounts and checking accounts for this demographic while also providing timely financial education and well-being information for youth in preparation for aging out of the foster care system.
The Foundation’s objective with this funding is to achieve the following impact:
- If youth in foster care receive training on basic financial education skills, will this improve their financial health and resilience at the time of aging out of the system (e.g. – habit of savings, an account, access to affordable credit)?
- If youth in foster care are provided with the ability to open savings accounts, will this encourage savings behaviors and provide this demographic with a financial safety net once they turn 18?
- What impact does improving financial health in this demographic have on other economic barriers such as housing and access to education?
- What planning resources/advice is needed to help participating institutions take concrete action and have an impact on this at-risk population?
Minimum requirements: The Foundation is looking for credit unions of any asset size who are willing to stand up programming and products to serve this demographic. Credit unions can apply by using the links below. Once applications are received, assessed, and approved, the Foundation will divide available funding amongst qualified participants.
This grant effort will run through September 2025. Total funding of up to $173,000 is available and will be applied to credit unions once a finalized work plan is provided.
The deadline for applications is close of business on Tuesday, August 20, 2024.
Download a copy of the full RFP here.
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Financial well-being
Understand your members, build a strategy to serve them and support your community to improve financial well-being for all.
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Education
In-person or virtual transformative training to help your credit union connect the cooperative principles to your mission and operational success.
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Resources
Research, case studies, tool kits and more to help your credit union implement and scale impactful financial well-being programs.
Our Impact
We exist to make our movement stronger. The Foundation invests in the advancement of credit union’s work through grants, educational programming and more.
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Since 2005, over$36M
has been granted to credit union organizations to improve people’s financial lives.
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Since 1982, over3,000
credit union leaders have been certified as CUDEs through the DE program.
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Since 2005, over$9.5M
has been distributed in disaster relief assistance through CUAid.
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April M. Clobes, President/CEO of MSUFCUMSUFCU is proud to support the work of the National Credit Union Foundation. The Foundation’s work in financial well-being for all credit union members coupled with their work supporting CUAid efforts makes the Foundation a treasured asset and partner to all credit unions. When we all support the Foundation, their work is amplified to make a larger impact to all credit unions and their members.
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