SEATTLE – A fledgling community development credit union project was awarded a $100,000 grant yesterday from the Safeco Insurance Foundation, one of five grants handed out by the insurer’s non-profit arm.
The credit union, King County Low Income CU, is being developed in conjunction with the Medina Foundation and the Bill and Melinda Gates Foundation, and Boeing Employees CU.
The Medina Foundation is providing almost $1 million in assistance to the project, the Gates Foundation $230,000 and the Seattle Foundation another $100,000, according to Tricia McKay, executive director for Medina.
The credit union also has partnered with a dozen area non-profits that will provide support with financial literacy, language translation, counseling and other needs of the low-income membership, said McKay.
The fledgling credit union recently hired a CEO, Brenda Kurz, a long-time community banker.
