RALEIGH, N.C. State Employees CU on Friday said it will deposit $25 million into a charitable trust to benefit the National CU Foundation and the Carolinas CU Foundation.
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The money is being invested in a Charitable Lead Trust created by Members Trust Co., which will generate an annual contribution of about $125,000 each for both charitable foundations.
Charitable Lead Trusts are commonly used by donors to make charitable contributions, allowing the opportunity for donors to customize charitable gifts and investment plans.
MEMBERS Trust Company is cooperatively owned by credit unions across the U.S., including $26-billion SECU.
