NCUF Commits $2M To BizKid$
WASHINGTON - (7/12/06)The National Credit UnionFoundation Board has authorized a three-year commitment worthnearly $2 million to produce a new PBS show called BizKid$, making the NCUF the programs largest sponsor.This represents the single largest grant commitment ever by NCUF. Anumber of individual credit unions and credit union-relatedorganizations have already committed funds toward this project, aswell. NCUF funding for Biz Kid$ will come from earnings oninvestments in the Callahan Fund, a sub-fund within theFoundations Community Investment Fund. The Callahan Fund wasestablished in honor of retired credit union leader Ed Callahan tofocus on financial literacy and cooperative development projects.The NCUF Board has authorized a grant of $250,000 to Biz Kid$ fromavailable Callahan Fund dollars in 2006, plus 100% of NCUFsuncommitted earnings in 2007 and 2008 from current and pastCallahan Fund investors. Based on current Callahan Fund balancesand interest rates, that would amount to more than $823,000 peryear in both 2007 and 2008.