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News Now

CU System
Illinois foundation awards 28750 in new grants
NAPERVILLE, Ill. (9/11/12)--The Illinois Credit Union Foundation has awarded $28,750 in Small Credit Union Development (SCUD), Community Service, and Marketing and Business Development grants, bringing the total awarded for the year to more than $74,300.

SCUD grants totaled $17,250 and were awarded to 10 credit unions. Purposes for the SCUD grants included computer hardware and software, equipment and upgrades, and other operational needs. The recipients were:

  • Alton & Southern Railroad Employees FCU, East St. Louis;
  • CSX Chicago Terminal CU, Calumet City;
  • D-B Employees CU, Johnston City;
  • Decatur Policemen CU, Decatur;
  • Flossmoor CU, Homewood;
  • Menard (Ill.) CU
  • Mercer CU, Aledo;
  • Peoria Fire Fighters CU, Peoria;
  • Peru Municipal CU, Peru; and
  • United Catholic CU, Granite City.
The foundation also awarded $3,000 in community service grants. The program encourages and rewards chapter or credit union participation in local community projects. Credit unions and chapters can qualify for grants by hosting, creating or volunteering at an event. Blackhawk Area CU, Savanna, will use its grant to facilitate the Bonzai financial education project, and Oak Lawn Municipal ECU, Oak Lawn, was a recipient for its "Stock the Pantries" project.

Community service grants were provided to the Carolinas Credit Union Foundation and the Southeastern Credit Union Foundation for children's hospital service projects in Charlotte, N.C., and Tampa, Fla., respectively to help support credit unions' tradition of honoring each national political convention city with a "leave-behind" project to serve the local communities long after the conventions have ended.

Also, three credit unions received Marketing and Business Development grants that totaled $8,500.  They were: Three Rivers Community CU, Mt. Carmel; Valley Bell CU, Elgin; and Western Illinois CU, Macomb. These grants help credit unions with assets of up to $30 million to start or expand outreach efforts. The maximum grant award is $5,000 per credit union per year. Requested uses for the grants included support for a membership outreach event, a plan to provide service to a new community charter area, and a website upgrade for a community charter expansion.

One more grant request deadline remains this year--on Oct. 31. Scholarships are reviewed on an ongoing basis while funds last. Online and downloadable grant request forms are available via the Illinois Credit Union League's website. Eligibility is limited to Illinois credit unions and chapters.
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