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CU System
ICU Foundation awards 67190 in grants scholarships
NAPERVILLE, Ill. (5/6/11)--The Illinois Credit Union Foundation recently awarded $67,190 in grants and scholarships to credit unions in the state. The foundation awarded $18,000 in small credit union development (SCUD) grants to 11 credit unions. The SCUD grants will be used for computer equipment, software updates, new printers, and a security system upgrade. The recipients were:
* Alton Bell Community CU, Alton; *C&NW Proviso CU, Northlake; *District 123 FCU, Oak Lawn; *Elgin Mental Health Center CU, Elgin; *Holy Family Oglesby CU, Oglesby; *IBEW Local 146 CU, Decatur; *Motor Coach Employees CU, East St. Louis; *Oak Lawn Municipal Employees CU, Oak Lawn; *Parish Members CU, Metamora; *School District #9 CU, Granite City; and *Urbana Municipal Employees CU, Urbana.
The foundation also awarded $2,000 in community service grants. The program is designed to encourage and reward chapter or credit union participation in local community projects. One chapter and three credit unions received a community service grant. They were: Danville Area Chapter, Milledgeville Community CU, Oak Lawn Municipal Employees CU, and Streator Onized CU, Streator. Armstrong Preferred Members CU, Bourbonnais, received a marketing and business development grant for $2,500. The program was established in 2006 to 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. Two credit unions received financial independence and revitalization effort (FIRE) grants totaling $3,500. The FIRE program helps credit unions provide credit and financial services to residents and businesses in low-income and underserved areas of Illinois. Community Plus FCU, Rantoul, and Sherwin Williams ECU, South Holland, used their FIRE grants to partner with the Center for Economic Progress to continue the Volunteer Income Tax Assistance program in their local communities. The foundation also awarded $41,190 in scholarships to 41 credit unions. Scholarships will enable recipients to attend ICUL educational opportunities and Credit Union National Association schools. There are two more grant request deadlines during 2011: July 31 and Oct. 31. Scholarships are reviewed on an ongoing basis while funds last. Online and downloadable grant request forms are available via the league’s website. Eligibility is limited to Illinois credit unions and chapters.
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