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CU System
ICU Foundation awards 75675 in grants
NAPERVILLE, Ill. (5/29/09)--The Illinois Credit Union Foundation recently awarded $75,675 in Small Credit Union Development (SCUD), community service, marketing and business development, and Financial Independence and Revitalization Effort (FIRE) grants and scholarships. About $26,775 in SCUD grants were awarded to 11 credit unions. The grants will be used for computer equipment and software, Internet banking, computer upgrades, specialized software, website set-up, strategic planning sessions, office equipment for a new facility and new computers. The recipients are:
* Chicago Fire Officers Association CU; * CT Community CU, East St. Louis; * DeKalb County CU, DeKalb; * District 123 FCU, Oak Lawn; * Effingham (Ill.) Highway CU; * Imperial Employees CU, Lincolnwood; * Maine Township Schools CU, Park Ridge; * Murray Employees CU, Centralia; * MWPH Grand Lodge of IL FCU, Chicago; * Parish Members CU, Metamora; and * Pontiac Dwight Prison Employees CU, Pontiac.
The foundation also awarded $800 in Community Service Grants. The program encourages and rewards chapter or credit union participation in community projects. Credit unions and chapters can qualify for grants by hosting an established event, creating an event, or volunteering at an established event. One chapter and one credit union received a community service grant: the Danville (Ill.) Area Chapter of Credit Unions and CommonWealth CU, Bourbonnais. Four credit unions received marketing and business development grants that totaled $14,000. The recipients were: Alton Route CU, Normal, NICE FCU, St. Charles, Riverside Community CU, Kankakee, and State Employees Community CU, Alton. 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. One credit union that received a FIRE grant for $5,000 was Sherwin Williams ECU, South Holland. The FIRE Program provides assistance to credit that provide credit and financial services to residents and businesses in low-income and underserved areas of Illinois. The goal of the FIRE Program is to enhance membership services for credit unions located in economically disadvantaged areas. Sherwin Williams used its FIRE grant to partner with the Center for Economic Progress to help bring the Volunteer Income Tax Assistance program to more people in the south and southwest suburban Chicago area. Also, $29,100 was awarded in scholarships to 37 organizations, including 34 credit unions. Individuals and groups--as a chapter or group of credit unions--can apply. Scholarships may be used toward the Illinois Credit Union League’s educational opportunities and Credit Union National Association Schools. For more information on grants, use the link.
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