$16,500 in financial education grants available from the Minnesota Credit Union Foundation
Saturday, October 24, 2015
ST. PAUL, Minn. – The Minnesota Credit Union Foundation (MnCUF) – with a mission to provide resources for credit unions and communities to prosper and thrive – recently announced it is offering $16,500 in grants in the fall of 2015 to assist Minnesota credit unions with implementing financial education projects.
Non-credit union organizations may also apply for grant funding, but must partner with a Minnesota credit union and demonstrate how the project will impact credit unions and their members.
Applications are currently being accepted, through Friday, Oct. 2. Grants will be evaluated by the Minnesota Credit Union Foundation Board of Directors, and recipients will be announced by November 6.
"The Minnesota Credit Union Foundation is pleased to have an opportunity to provide financial support to the tremendous initiatives taking place around the state of Minnesota," said Foundation Chairman Dave Larson. "I am excited to see fresh, new ideas of how Minnesota credit unions can serve our communities by providing much-needed financial education."
Financial Education Grant History
The Minnesota Credit Union Foundation introduced its Financial Education Grant Program in 2013, and to date has distributed $44,500 in funds for financial education initiatives. Spring 2015 Financial Education Grant recipients included:
Mid Minnesota Federal Credit Union, after participating in the CFPB’s “Your Money, Your Goals” Training, will provide training and collaboration with a local non-profit, Bridges of Hope, to provide comprehensive financial literacy training to community members experiencing financial hardship. Mid Minnesota will provide “train the trainers” sessions to the Bridges of Hope staff to reach the greater community.
Royal Credit Union will open an in-school credit union branch at Eden Prairie High School in September 2015. The branch will be staffed by students to provide traditional financial transactions, and will also be used as a facility for financial education opportunities. Royal will also work with the school to develop curriculum and classroom collaborations to support financial capability efforts.
St. Cloud Federal Credit Union will partner with the Sartell-St. Stephen School District 748 to create a lending curriculum within its human geography classes. Ninth grade students will create a development plan for a developing country, and then select micro-lending opportunities through www.kiva.org, a non-profit organization with a mission to connect people through lending to alleviate poverty. The payback of the money loaned will create a self-perpetuating program to be used by students in future years.
TopLine Federal Credit Union, partnering with the Maple Grove Farmers Market, will sponsor the Power of Produce (PoP) Kids Club for the 2015 market season. PoP club members (children ages 5-12) will receive $2 market tokens to learn the power of money and how to make healthy food choices by shopping at market vendors.
The Foundation Board of Directors evaluates applications based on a variety of factors, including credit union value, community impact, collaboration, creativity, and past participation in MnCUF initiatives and funding. Non-credit union organizations may also apply for grant funding, but must partner with a Minnesota credit union and demonstrate how the project will impact credit unions and their members.
Additional information and details are available on the Financial Education Grants page of the Foundation website. (www.mncufoundation.org/grant-programs/financial-education-grants)
Keenly focused on financial education and professional development initiatives, the Minnesota Credit Union Foundation is dedicated to providing the resources for credit unions and communities to prosper and thrive. MnCUF is a non-profit 501(c)(3) organization founded in 1969 to serve as a charitable arm of the Minnesota credit union movement. For more information, visit www.mncufoundation.org.