ST. PAUL, Minn. (9/17/13)--The Minnesota Credit Union Foundation is offering $10,000 in grants to assist state credit unions in implementing financial education projects.
Minnesota credit unions can apply for grants through Oct. 1.
The grants are part of the foundation's mission to provide resources for credit unions and communities to prosper and thrive.
"Minnesota credit unions are doing amazing things to teach the basics of personal finance to their members and to members of the community, young and old," said Pat Brekken, chair of the Minnesota Credit Union Foundation. "The foundation is proud to support these efforts."
Beginning in 2013, the Minnesota Credit Union Foundation has committed 50% of its annual budget to financial education grants, with application periods in the spring and fall. The foundation board of directors will evaluate applications based on factors such as credit union value, community impact, collaboration and creativity.
Examples of financial education projects/initiatives include:
- Establishing an in-school branch;
- Partnering with a community organization to teach personal finance skills;
- Teaching financial literacy classes in local schools;
- Creating a credit union youth advisory board that incorporates learning components;
- Hosting seminars on credit, debt and budgeting, etc.;
- Coordinating retirement or estate planning workshops;
- Offering youth checking or credit card products with required learning benchmarks;
- Providing services, coupled with education classes, for high-risk members, and;
- Supplying local schools with a financial education curriculum.