The Michigan Credit Union Foundation recently awarded grants to nine different credit unions for financial education. MCUF grants assist credit unions and their chapters in developing or implementing community reinvestment or financial education initiatives and partnerships, especially those aiding underbanked, low-income or underserved areas.
Michigan CUs receiving MCUF grants include:
• $35.5 million Allegan Community Federal Credit Union
• $87.6 million Catholic Vantage Financial Credit Union
• $50.6 million Lake Huron Credit Union
• $201.1 million Sagelink Credit Union
• $103.7 million Awakon Federal Credit Union
• $283 million CASE Credit Union
• $86.4 million Best Financial Credit Union
• $51.2 million Community First Federal Credit Union
• $505.6 million Team One Credit Union
This past year, MCUF – in conjunction with the Michigan Credit Union League – awarded more than $100,000 in grants for community reinvestment and financial education activities. In July, the MCUF board of trustees approved nine new grants bringing the total for the year to 24 grants and $110,000.
Among other community reinvestment activities, Catholic Vantage Financial Credit Union’s Hispanic financial education program, Everfi, helps spread financial literacy to their youth, adult and Hispanic community members. Team One Credit Union used its MCUF grant to add skilled trade training centers to two schools in low-income areas in order to fill their need for qualified skilled workers and increase future earning ability for many students.