ICUF 2010 Year in Review — Dec 29, 2010
ICUF 2010 Year in Review
The Iowa Credit Union Foundation marked another successful year in 2010. Momentum continues to build in ICUF's strategic directives and flagship programs, namely the matched savings program and financial education.
On behalf of the ICUF Board of Directors, thank you for your generous support in 2010. Here are some successes we've achieved together:
Matched Savings Program (Individual Development Accounts)
Low-income working Iowans have their savings matched through one of 20 participating credit unions so they can buy an asset to improve their financial stability. Those 20 credit unions include Advantage Credit Union, Affinity Credit Union, Alliant Credit Union, Ascentra Credit Union, Cedar Falls Community Credit Union, Community 1st Credit Union, Des Moines Metro Credit Union, Dupaco Community Credit Union, DuTrac Community Credit Union, Employees Credit Union, Greater Iowa Credit Union, Iowa Community Credit Union, Linn Area Credit Union, Metco Credit Union, RIA Federal Credit Union, SCICAP Credit Union, Telco Triad Community Credit Union, Veridian Credit Union and Village Credit Union.
In 2010 we:
- Had 20 asset purchases (home, business, education, vehicle), up from five in 2009.
- Received $34,000 in matching funds from the Northwest Area Foundation and $13,200 from Veridian Credit Union
- Enrolled 141 savers in the program as of December 22, 2010
- Financial Education
- Entered into a consulting agreement with Adam Carroll of National Financial Educators of Clive, Iowa to roll out a financial education initiative in Iowa credit unions.
- Provided nine financial education grants to credit unions for local initiatives. The recipients included Alliant Credit Union, Ascentra Credit Union, Community 1st Credit Union, Financial Plus Credit Union, Greater Iowa Credit Union, Midwest Utilities Credit Union, Town and Country Credit Union, Veridian Credit Union and Village Credit Union.
- Sponsored the Financial Success Symposium in June 2010, featuring Ben Rogers of the Filene Institute.
Grants & Scholarships
- Provided $6,000 in disaster relief grants to 12 credit union members affected by flooding in 2010. The recipients were members of Ace Community Credit Union, Ascentra Credit Union, Dupaco Community Credit Union, First Class Credit Union, North Star Community Credit Union, and River Valley Credit Union.
- Provided six FIB scholarships to credit union members to continue their education. The students were members of Veridian Credit Union, Cedar Falls Community Credit Union, Collins Community Credit Union, Dupaco Community Credit Union and Financial Plus Credit Union.
- Provided grants to eight small credit unions for technology, planning needs and attendance at the CUNA GAC conference. Funds for the grants were donated by Veridian Credit Union. The credit unions were Allen Hospital Personnel Credit Union, DAPAKO Credit Union, Dubuque Teachers Credit Union, Eagle Rock Credit Union, Gas & Electric Employees Credit Union, Postal Employees Credit Union and RACOM Community Credit Union.
- Provided credit union professionals funds to attend CUNA Management School. The recipient credit unions were Alliant Credit Union, Dubuque Teachers Credit Union and Linn Area Credit Union.
For 2011, ICUF intends to do another round of financial education grants and a series of webinars led by Adam Carroll on financial education.
We're also planning an appreciation event and golf outing in the Coralville/Iowa City area June 15-16, 2011. Please mark your calendars.
Thank you for all of your support in 2010. Working together, we can help Iowans build wealth, responsibility and independence.
Happy New Year!
Iowa Credit Union Foundation