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News Now

CU System
ICU Foundation awards 22K in third grant round
NAPERVILLE, Ill. (11/28/11)--The Illinois Credit Union Foundation earlier this month awarded $22,000 to a variety of projects, including Small Credit Union Development (SCUD), Community Service, Marketing and Business Development, and Financial Independence & Revitalization Effort grants.

Total grants awarded by the foundation for the year is nearly $88,000.

SCUD grants this cycle totaled $8,000 and were awarded to four credit unions for computer hardware and software upgrades, a new security system, and other operational needs.

The recipients were:

  • Alton (Ill.) Bell Community CU;
  • Alton & Southern Railroad Employees FCU, East St. Louis;
  • CTA C & M FCU, Chicago; and
  • IBEW Local 146 CU, Decatur.
The foundation also awarded nine Community Service Grants of $500 each. The program is designed to encourage and reward chapter or credit union participation in local community projects. Credit unions and chapters can qualify for grants by hosting, creating or volunteering at an event.

Recipients included:

  • DHCU Community CU, Moline;
  • Imperial CU, Springfield;
  • Landmark CU, Danville; and
  • Members First Community CU, Quincy.
Five chapters--Danville Area, Egyptian, John L. Kelly, Rockford Area and Southern Illinois--also received the $500 grants. Grants awarded will go toward hosting a community shred day, financial education projects (National Endowment for Financial Education and Mad City Money) and holiday projects.

Also, three credit unions received Marketing and Business Development grants that totaled $9,900. Established in 2006, the grants help credit unions with assets of up to $30 million to start or expand outreach efforts. The maximum grant award is $5,000 per credit union per year. Grant requests this round included: a new financial security campaign for seniors, a new logo and website upgrades.

The recipients were:

  • North Side Community FCU, Chicago;
  • Three Rivers Community CU, Mt. Carmel; and
  • Northside L FCU, Chicago.


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