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News Now

CU System
ICU Foundation Awards $52,000 In First-round Grants
WASHINGTON (4/25/13)--One chapter and 24 credit unions received grants totaling $51,885 to support their Community Service, Marketing and Business Development, and Small Credit Union Development (SCUD) efforts from the Illinois Credit Union Foundation (ICUF) during the first quarter of 2013.

The foundation awarded seven Community Service Grants totalling $3,750 to assist and reward chapters or credit unions that actively support and invest in their local communities. Credit unions and chapters were eligible by hosting an established event, creating an event or volunteering at an already established event.

The Marketing and Business Development grants, totaling $15,500, were awarded to four credit unions. Created in 2006, this grant's objective is to help credit unions with assets up to $30 million to expand their outreach. The maximum grant is $5,000 per credit union per year.

The Small Credit Union Development grants, totaling $32,635, were awarded to 12 credit unions and one chapter. This grant aids small credit unions with purchasing computers, hardware, software, equipment, upgrades and other operational needs. 

ICUF has awarded more than $2.4 million in grants since it was established in 1978.

Illinois credit unions and chapters are still eligible for two more grant request deadlines in 2013--July 31 and Oct. 31. They can apply by downloading a grant request form via the league's website.


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