Credit unions can contribute to the Minnesota Credit Union Foundation (MnCUF) by investing in the National Credit Union Foundation’s (the Foundation) Community Investment Fund (CIF). Established in 1999, the CIF allows investing credit unions to receive 50 percent of the return, and the remaining 50 percent is split evenly between the MnCUF and the NCUF.
The CIF provides a unique vehicle to support financial education, professional development, community outreach and emergency assistance, not only in Minnesota, but across the country as well.
For more information on how the CIF works, please visitthe Foundation website or watch the video below!
With questions about the Community Investment Fund, please use the contact information included below or contact the Foundation!
National Cooperative Bank (NCB)
NCB is the bank to the cooperative community. NCB has a variety of products and terms which are fully insured up to $250,000, including CDs with terms of six-months, 12-months, 18-months, two years, three years, and a liquid money market deposit account – all at competitive rates of interest. Credit unions can choose the amount of earned interest to donate, anywhere from 50 to 100 percent. A minimum investment of $10,000 is required for this CIF option, and there is no requirement to purchase stock. The renewal for these products is automatic unless credit unions select otherwise. Click here for more information and/or to invest in CIF with NCB.
Alloya Corporate Federal Credit Union
Capitalized members of Alloya Corporate Federal Credit Union can utilize this channel to invest in the CIF. Alloya investments earn market rates, and options include term certificates or 90-day notice accounts. Additionally, Alloya offers a low minimum investment amount at $1,000. Click here for more information and/or to invest in CIF with Alloya. With questions, contact Alloy’s member services at (800) 342-4328.
MEMBERS Trust Company
NCUF and MEMBERS Trust Company offer two options for large investments.
- NCUF Charitable Investment Trust. MEMBERS Trust Company, as trustee, shall manage the assets in a trust according to the Federal Credit Union Act, Part 703 of NCUA Rules and Regulations and other applicable laws. The recommended minimum deposit is $500,000.
- NCUF Federally Insured Account. This account is using the Certificate of Deposit Account Registry Service Program (CDARS) that allows credit unions to invest in federally insured CDs up to $50 million. The recommended minimum deposit is $250,000.
Click here for more information and/or to invest in CIF with MEMBERS Trust Company. With questions, contact Jason Ritzenthaler at (813) 631-9191 ext. 705.
Corporate One Federal Credit Union
CIF investments through Corporate One are open to all credit unions (no membership requirements). Investment options include federally insured CDs or government-issued securities and can range from $50,000 to $10 million. Once an investment is selected, the credit union chooses to have a percentage of the investment’s earnings go to the CIF as a contribution. To invest through Corporate One, contact(800) 366-2677. For more information on the offering, contact Paul Hixon, VP Marketing.
Catalyst Corporate Credit Union
Two options are available when investing in the CIF through Catalyst Corporate. Capitalized members of Catalyst can invest in six ,12, and 18 month CIF share certificates and 90 day notice accounts. All credit unions can open brokerage and safekeeping accounts with Catalyst (no membership requirements) – options include fixed coupon agency securities. Additional information is available at Catalyst online or through a Catalyst investment officer at (800) 405-7067.
Volunteer Corporate Credit Union (VolCorp)
Credit unions interested in investing in the CIF through VolCorp must own Perpetual Contributed Capital. The minimum investment amount is $1,000, and credit unions can chose either 50% or 100% of interest to donate to the CIF. Investment options include 6, 12 and 18 month CIF share certificates and Notice 90 accounts. Agency securities options are available through VolCorp brokerage services. Contact Investment Sales at (800) 470-3444, ext. 2.