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News Now

CU System
Illinois foundation grants 45k in third round
NAPERVILLE, Ill. (11/30/12)--The Illinois Credit Union Foundation has awarded $45,100 in grants in a third and final round of funding in 2012, bringing the total awarded for the year to more than $125,300.

The grants include Small Credit Union Development (SCUD), Community Service, Marketing and Business Development, and Financial Independence & Revitalization Effort (FIRE) grants.

SCUD grants for this cycle totaled $12,603. They were awarded to 10 credit unions and one chapter. The grants are for computer and other office equipment. The recipients were:

  • Alton Bell Community CU, Alton;
  • Ambraw FCU, Lawrenceville;
  • CTA C&M FCU, Chicago;
  • Fairmont Village CU, East St. Louis;
  • Israel Methcomm FCU, Chicago;
  • Oak Lawn Municipal Employees CU, Oak Lawn;
  • Peoria City Employees CU, Peoria;
  • Peoria Hiway CU, Peoria;
  • Processors Industrial Community CU, Granite City; and
  • St. Mark CU, Chicago.
The Chicago Metro Chapter also received a SCUD grant to establish a "Supply Pantry" to help small credit unions in the chapter share commonly used office supplies and help reduce their cost of those items.

The foundation also awarded seven Community Service Grants at $500 each. The program encourages and rewards 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 established event. Recipients included:

  • DHCU Community CU, Moline;
  • Landmark CU, Danville;
  • Midwest America FCU, Danville; and
  • North Side Community FCU, Chicago.
Three chapters--Danville Area, Egyptian, and Southern Illinois--also received Community Service Grants for several projects, including North Side Community's effort with a local social service agency to teach people how to prepare healthy meals on a limited budget and stretch their food budget. The workshops will be open to the community.

In addition, five credit unions received Marketing and Business Development grants that totaled $15,865. The recipients were:

  • Elite Community CU, Bourbonnais;
  • IBEW Local 146 CU, Decatur;
  • Jeff-Co Schools FCU, Mt. Vernon;
  • Peoria Hiway CU, Peoria; and
  • SDC Employees CU, Kankakee.
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 were for membership outreach efforts.

Three credit unions were recipients of FIRE grants. They included: Members First Community CU, Quincy; North Side Community FCU, Chicago; and South Division CU, Evergreen Park. 

The FIRE Program provides assistance so credit unions can expand their ability to build and maintain viable communities by providing credit and financial services to residents and businesses in low-income and underserved areas of Illinois. Members First will use its grant to expand its reach to junior high and high schools and students in four counties with the Banzai financial education program.


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