The CU Journal Daily
NCUF Disburses $313K In Grants
MADISON, Wis.-The National CU Foundation announced Tuesday $313,000 in grants for credit union development projects.
The recipients are: Financial Health CU, East Lansing, Mich., to fund financial services for the disabled ($150,000); Operation HOPE, to provide financial education through Los Angeles area credit unions ($50,000); Immaculate Conception Church, Camden, Miss., to build a credit union branch in a low-income area ($36,000); Spokane Neighborhood Action Programs for financial counseling and education ($31,000); Alternatives FCU, Ithaca, N.Y., to expand its Volunteer Income Tax Program ($25,000); Arizona Saves, to fund financial education in Phoenix ($15,000); and Red Lake Co-op FCU, to fund a data systems upgrade for the Red Lakes, Minn. CU ($6,300).
Ford Foundation Big CU Supporter
NEW YORK-From the funding of asset building programs to financial literacy and a secondary market for low-income mortgages, the Ford Foundation has become the credit union movement's most generous outside source of funding.
The 50-year-old foundation, one of the largest in the world with an endowment topping $5 billion, will provide $2 million in credit union-related grants this year, including $550,000 to help fund the National Federation of CDCUs' mentoring program; $445,000 to fund the Federation's asset building project; $400,000 to assist the North Carolina Minority Support Center for 12 CDCUs; $90,000 to develop international remittance programs; $210,000 for a Woodstock Institute study on CDCUs; and $150,000 for the New York City Financial Network Action Consortium of CDCUs. The Foundation has been helping fund credit union projects for more than a decade and is one of the biggest donors to community development credit unions through annual assistance to the federation.
A 1998 grant of $5 million to assist Self Help CU create a secondary mortgage market for low-income borrowers still stands as the largest grant ever awarded credit unions.
NM CUs To Raise $1M For Hospital
ALBUQUERQUE, N.M.-The CU Association of New Mexico has pledged to raise $1 million over the next five years to help fund the new pediatric emergency wing of the Children's Hospital of New Mexico. The credit union contribution will help fund part of a multi-million dollar renovation of the facility, formerly known as UNM Children's Hospital, according to Jodi Garber-Simon, communications director for the league. "The hospital serves children from every corner of the state, which is why we decided to do this," Garber-Simon told The Credit Union Journal. The new wing will be named after New Mexico's credit unions.
Arkansas Fed Offers RE Discounts
JACKSONVILLE, Ark.-Arkansas FCU has begun offering a real estate assistance program to members that includes a rebate on real estate agent commissions.
The Members Only Home Rebate Program is being offered through an arrangement with HomeSold, a division of Fidelity National Financial. Members who use real estate agents in the program are rebated 25% of the actual commission following the close of escrow on the purchase or sale.
Members can sign up on the website of the $382-million AFCU, where they are assigned a Personal Transaction Assistant who then assigns a local real estate agent qualified by HomeSold.
15-Year-Old Is Alleged Robber
MARSHALLTOWN, Iowa.-A 15-year-old boy was arrested and charged with armed robbery at First Member's Credit Union here.
Fernando Garcia was captured after a short foot chase after two residents called police and said they recognized him. The money, the gun and the clothes worn during the robbery were all recovered and turned over to police.
Angry Wife Turns In Husband
TYLER, Texas-The man who helped two armed assailants escape after they allegedly robbed Keystone Credit Union of $31,000 last June pleaded guilty to bank robbery charges here.
Carlos Starks, 41, confessed to picking up his two accomplices, and to being the getaway car driver in two other CU hold-ups. A robbery at Keystone CU was unsolved until police were called to Daley's house for a domestic disturbance, and Daley's wife told police Daley had robbed a local credit union.