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CU System
NCUF Members Trust offer Charitable Lead Trust CIF option
MADISON, Wis. (11/29/11)--In an alliance with MEMBERS Trust Co., FSB, the National Credit Union Foundation (NCUF) has expanded its Community Investment Fund (CIF) options to include a Charitable Lead Trust commonly used by foundations nationwide. 

Through CIF, credit unions can participate in and support the programs and grants that NCUF and the state credit union foundations provide.

With the new Charitable Lead Trust option, NCUF will receive annual payments calculated as a percentage of the market value of the assets held in the trust for three to five years. Unless a donor credit union elects to renew the trust at the end of this payout period, the remaining assets in the trust will be returned to the credit union. 

The first investors in the new Charitable Lead Trust option are GTE FCU in Tampa, Fla., and BECU, Tukwila, Wash.

Earlier this year, NCUF and MEMBERS Trust entered into a strategic alliance to offer two new CIF options--an insured certificate of deposit Custodian Account and a Part 703 compliant Investment Trust. Both options are still available, with $15 million currently invested from credit unions.

Overall, $30 million is invested in the three MEMBERS Trust Co. CIF options, which includes $15 million invested by BECU and GTE FCU in the new Charitable Lead Trust option.
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