The Minnesota Credit Union Foundation said last week it is currently offering $7,500 in grants to state credit unions and other organizations to help them implement financial education initiatives during the spring.
While non-credit union organizations are eligible to apply for grant funding, they are required to partner with a credit union and detail how their idea, program or initiative will impact the state’s financial credit unions and their members.
“As community-focused organizations, credit unions continually work to improve their members’ personal financial knowledge and well-being,” MnCUF Chairman Pat Brekken said. “The Minnesota Credit Union Foundation is happy to come alongside our state’s credit unions to support these efforts.”
Applications will be accepted through Tuesday, April 1, and will be evaluated by the MnCUF’s board of directors based on a number of criteria, including credit union value, collaboration, creativity, past involvement with and support of the foundation’s activities and community impact.
Initiatives must have measurable outcomes, and the organization is required to submit a follow-up report within 30 days of completing their program or initiative. Winners will be announced by mid-April.
MnCUF began offering grant funding last year with $15,000, which went towards Mid-Minnesota Federal Credit Union’s conversion of financial education classes to an online format, and enhancements for the Minnesota Power Employees Credit Unions’ financial education exhibit at the Duluth Children’s Museum.
Other projects that received funding last year were Postal Credit Union’s financial education seminar program through Tartan High School, and St. Paul Federal Credit Union’s efforts to set up a student-run credit union at the city’s Harding Senior High School.