FARMERS BRANCH, Texas (8/28/13)--The Cornerstone Credit Union Foundation awarded $25,700 in grants during third quarter of 2013 in its mission to empower people to improve their financial well-being. So far this year, it has awarded $141,068 in general grants and $14,750 in financial literacy grants.
The grants for third quarter include 11 general grants and three financial literacy grants (Leaguer
Aug. 27). Consumer CU Counseling Services (CCCS) of Greater San Antonio and RAISE Texas are among the recipients.
CCCS of Greater San Antonio is collaborating with several area credit unions--Firstmark CU, Generations FCU, Randolph-Brooks FCU, River City FCU, Security Service FCU and San Antonio CU--to improve the financial well-being of low- and moderate-income families in that city.
CCCS and the credit unions will provide consumers with an action plan, guidance and support as they work toward financial goals such as reducing debt, improving credit, buying a home, creating a workable budget, saving money and improving their overall financial well-being.
The program will provide individual financial counseling in person, over the phone or through the Internet. Consumers choose a package with a predetermined number of sessions or receive month-by-month coaching. Depending on their needs, they can choose from:
Basic Financial Coaching;
Pre-purchase Housing Coaching;
Credit Analysis Coaching;
Debt Repayment Coaching; or
Life After Bankruptcy Coaching.
Families also will be required to attend group classes and webinars covering topics such as building a strong credit report, money management 101 and money management beyond the basics.
RAISE Texas' grant will fund expenses for its Asset Building Community Leadership Team Training and Planning Session in November, where asset building community leaders from diverse geographical areas will discuss and research asset building activities in communities across Texas, and discuss innovative grants and pilot projects through Opportunity Texas.
The training will benefit credit unions in two ways: By providing information the asset building leaders will take back to their credit union communities and by offering projects where credit unions play a key role in expanding these efforts and partnering with RAISE Texas and Opportunity Texas groups.
RAISE Texas is a network of non-profit organizations and institutions working to support and expand asset-building activities such as individual development accounts, free tax preparation and earned income tax credit sites, children's savings accounts, broad-based community financial education and developing alternative financial products.
Other third quarter grants from the foundation included three Junior Achievement grants, one chapter grant, and six training and conference scholarships for credit union staff and volunteers.
Such outreach projects help raise awareness of the value of credit unions to the community and to the member. Raising awareness is one of the components of the Credit Union National Association's and state leagues' Unite for Good campaign, which is working toward a strategic vision where Americans choose credit unions as their best financial institution.