National CU Foundation Awards Nearly $600,000 in Innovation Grants

WASHINGTON – Fourteen credit unions will receive almost $600,000 in grants from the National CU Foundation to help them develop innovative programs to reach the underserved, the Foundation announced yesterday. The $580,000 in grants will be leveraged to fund almost $3 million in programs for payday lending, income tax assistance, student run credit unions, Individual Development Accounts for foster youth and financial literacy, among other things. The recipients include: Mission Area FCU, Guadalupe CU, Brooklyn Cooperative FCU, Carter FCU, La Capitol FCU, Syracuse Cooperative FCU, La DOTD FCU, Neighbors FCU and Southern Teachers & Parents FCU, Trulian FCU, as well as programs developed by the Wisconsin CU League, Pennsylvania CU Foundation and Arizona Saves, a non-profit that partners with credit unions and banks on savings programs.