HARRISBURG, Pa. (12/13/11)--The Pennsylvania Credit Union Foundation (PCUF) Board of Directors has increased the number of small credit unions eligible for grants from the foundation.
The minimum assets for small credit union grantees will be $30 million in assets instead of $20 million, the board decided in a recent meeting. That means 52 credit unions are now eligible for PCUF grants.
The change was approved to bring small credit unions into line with the Pennsylvania Credit Union Association (PCUA) board governance changes recently approved by PCUA's board (Life is a Highway
The PCUF board also approved its 2012 budget calling for $236,100 in revenues and $299,100 in expenses. Of total expenses, $130,000 is earmarked for grants and $99,100 for operations, leaving a net gain of $7,000 against revenues.
In other action, the board:
- Approved 10 grants for a total of $130,050;
- Decided to explore outside fundraising firms;
- Heard presentations on a recent Reality Fair at the State Capitol, Pennsylvania Flood Relief Activities, new Community Investment Fund options available, and Haitian Task Force activities; and
- Welcomed new board members Todd Cover, USSCO Johnstown FCU, Johnstown, and Carol Fastrich, AmeriChoice FCU, Mechanicsburg.