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News Now

CU System
N.Y. foundation awards nearly $53K in grants
ALBANY, N.Y. (6/6/14)--Since January, the New York Credit Union Foundation has awarded nearly $53,000 in grants to state credit unions and credit union professionals.

Applications for professional development grants are accepted year-round on a rolling basis.The most recent grant cycle took place January through May.

Forty-three professional development grants totaling $23,575 were awarded to employees and volunteers from 30 credit unions.
 
Five Smart Money grants totaling $11,253 were awarded to:
  • Cooperative FCU, Wooodridge, with $9 million in assets;
  • Alternatives FCU, Ithaca, with $84 million in assets;
  • Buffalo Metropolitan FCU, with $86 million in assets;
  • CORE FCU, East Syracuse, with $80 million in assets; and
  • ServU FCU, Painted Post, with $237 million in assets.
Smart Money grants can be used for projects such as youth or adult financial education programs, homeownership programs or services, financial counseling, savings and wealth-building initiatives, providing the unbanked with access to financial services and earned income tax credit tax preparation.

Seven small credit union grants totaling $17,989 were awarded to the following credit unions:
  • Local 41 IBEW FCU, Orchard Park, with $41 million in assets;
  • Buffalo Cooperative FCU, with $6 million in assets;
  • Greece Community FCU, Rochester, with $8 million in assets;
  • GRS EFCU, West Henrietta, with $2 million in assets;
  • South Towns Community FCU, Lackawanna, with $14 million in assets;
  • Spencerport FCU, with $24 million in assets; and
  • Upstate Milk EFCU, Cheektowaga, with $2 million in assets.
Small credit union grants can be used for general operating needs that help to improve member service, including (but not limited to): technology, security improvements, operations and consulting services.


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