Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ohio CU foundation reserves support CU initiatives
COLUMBUS, Ohio (10/28/11)--The Ohio Credit Union Foundation Board of Trustees approved allocating money from reserves--its endowment fund--to meet rising demand for grants to continue its tradition of supporting educational and outreach initiatives that strengthen Ohio's credit unions and their communities.

Donations received by the foundation during a calendar year are used to create the ensuing year's grant-making budget. In 2010, $177,000 was donated by individuals, credit unions and business partners. However, the 2011 grant-making budget was nearly depleted by the end of September. Meanwhile, the grant assistance needs of Ohio's credit unions continue to grow, the foundation said (e-Lumination Newsletter Oct. 5).

"As a result, the foundation board proactively allocated grant dollars from its endowment fund," said Board Chair Tom Furrey. "The foundation will now be able to fund grants beyond its original 2011 grant-making budget, and further help credit unions meet their training, outreach, and financial education needs for the balance of 2011."

So far in 2011, grants awarded include: student-run credit unions, financial reality fairs, Biz Kid$ production, state and national professional development opportunities, scholarships for post-secondary education, and disaster relief.


RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
2 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
2 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
5 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
5 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
5 hours ago