$10 Million Reinvested In Founation's Fund
Bellco Credit Union reported it has reinvested $10-million into a three-year fixed rate CD with the National Credit Union Foundation's Community Investment Fund (CIF), which directly supports the efforts of credit unions through community grants and contributions to foundations. BCU's investment in the CIF was the fifth largest in the nation by a non-corporate credit union. Half of the CIF dividends are returned to the investing credit union, with the remaining half directed to the NCUF. Fifty percent of the dividends received by the NCUF are provided to state foundations.