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CU System
ICU Foundation awards 25K more in grants
NAPERVILLE, Ill. (12/13/10)--The Illinois Credit Union (ICU) Foundation has awarded $25,000 in grants for a variety of projects. It awarded $22,100 in small credit union development (SCUD), community service, marketing and business development, and financial independence and revitalization effort (FIRE) grants, and more than $2,700 in scholarships. The latest grants bring the total awarded for the year to nearly $129,000. SCUD grants totaled $12,000 and were awarded to six credit unions. Purposes for these grants included computer hardware and software, equipment and upgrades, and other operational needs. The recipients were: Alton & Southern Railroad EFCU, East St. Louis; Citizens Community CU, Rockford; D’PUC CU, Chicago; LaSalle County School ECU, Ottawa; Mt. Zion (Ill.) CU; and Springfield City (Ill.) ECU. The foundation also awarded six community service grants at $500 each. This 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 an established event, creating an event, or volunteering at an event. Recipients included: DHCU Community CU, Moline; North Side Community FCU, Chicago; and Shiloh Englewood FCU, Waukegan. Two chapters, Chicago Metro and Egyptian, and the Washington Credit Union Foundation, also received grants. Grants will go toward sponsoring meals for seniors, and hosting a do-it-yourself home maintenance series for low- and moderate-income members, and helping women in trades. In addition, three credit unions received marketing and business development grants that totaled $7,100. The recipients were: Altonized Community FCU, Alton; Blaw Knox CU, Mattoon; and North Side Community FCU, Chicago. Established in 2006, these 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 each year. Grant requests included a skip-a-payment campaign for vehicle loans, adding a debit card program for members, and opening a satellite branch. Scholarships totaling $2,768 were awarded to four recipients. Individuals and groups (such as a chapter or group of credit unions) are eligible. Scholarships may be used toward Illinois Credit Union League educational opportunities as well as Credit Union National Association schools. Recipients included: Ambraw FCU, Lawrenceville; Jeff-Co Schools FCU, Mt. Vernon; and Wrigley Associates CU; Yorkville. One chapter, Chicago Metro Chapter, was also a recipient.


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