MnCU Foundation to offer Pandemic Relief Grants

The Minnesota Credit Union Foundation has established a $65,000 Grant Pool for the purpose of pandemic relief fund to support MnCUN affiliate members under $100M in assets.
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Credit unions may apply for funding to address a past, current or future expense as they transition to address the challenges that the COVID-19 crisis has created for the industry. Pandemic-related expenses that have been incurred after March 15th, 2020 will be considered.

Credit unions may apply beginning immediately and the Foundation will accept applications as funding permits or until December 1, 2020. A portion of the available funds were provided by a generous donation from Alloya Corporate Credit Union.

Grant requests can be up to $2,500 and must be used to support expenses directly related to the pandemic including but not limited to:

• Purchase of safety and personal protective equipment (masks, plexiglass, hand sanitizer, etc.)
• Operational or technological expenses that support infrastructure or business continuity (Laptops or other tools for working from home)
• New/upgraded tools or services that allow for limiting contact/exposure for employees or customers (Online banking, remote deposit, signature pads, etc.)
• Long-term expenses that will be incurred by the credit union in adjusting to changes in staffing models, member service or health and safety. (Adjustments to branches, drive-throughs, etc.)
• Remote/virtual services to serve members or provide financial education or counseling (webcams and virtual tellers, live chat to limit branch traffic)
• Creating programs or services which target populations that are impacted by the crisis (low-income, at-risk or unbanked, etc. to prevent fraud, provide education, counseling, etc.)

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How to apply: Complete the application form, which includes a description of the fund use, proof of expense or detailed proposed budget, and credit union CEO approval. With questions, contact Andrea Molnau, MnCU Foundation Executive Director.