HELENA, Mont.-In a way, this year's Herb Wegner Award for Outstanding Organization will be paying homage to all of this states CUs.
The Montana Credit Unions for Community Development is the philanthropic arm of the Montana Credit Union Network and was given one mission: arm credit unions with better products and services to serve the underserved. Its work resulted in the Herb Wegner Memorial Award for Outstanding Organization.
Most of the 5-year-old organization's activities are directed toward serving the state's low-wealth population, packaging up products and services CUs can easily implement. That collective approach allows the organization to provide various programs, including alternatives to payday lending, a Credit Union Resource Center, early awareness programs that educate parents of elementary-aged school children about planning and saving for college, financial education, IDAs aimed at building the savings habit, and VITA sites.
In its first five years. MCUCD has formed partnerships with 22 organizations, including AARP Montana and the Kellogg Foundation.
"We were created specifically to deliver products to credit unions," said Tracie Kenyon, CEO of the Montana Credit Union Network. "I believe that MCUCD has added a lot of value for our credit unions."
Kenyon added the credit unions "love it."
"I believe every credit union professional wants to provide services to people no matter what their demographic is," she said. "It really helps our credit unions that they have a program. We have a real commitment from our credit unions."
The services are available to all of the Network's member credit unions for free. The foundation is funded 50% by dues and the other 50% is grant-funded. The annual budget is about $200,000.
"That includes two staff members, but two of them are paid 100% through the league," Kenyon said. "One position is fully grant-funded, and then we have three AmeriCorps Vista." (AmeriCorps Vista is the national service program designed specifically to fight poverty.)
When MCUCD was originally created, it was expected to reach out to the financial distressed, Kenyon explained. "We thought we'd mainly be working with CDFI. We really felt that would be a great opportunity for us. But it really has evolved. We didn't expect it."
Kenyon credited MCUCD's staff for the success. "They have been really engaged and excited," she said. "They really have hearts and passion for this service."
As for winning the Wegner Award, Kenyon said, "We were very excited. We've had some local recognition, but this is huge,. We brought champagne in for the staff. It was a really big deal. We are really keyed up about it."
