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Iowa Credit Union Foundation Newsletter - Fall 2010 — 

Iowa Credit Union Foundation Newsletter - October 2010

Iowa Credit Union Foundation Tops More than $1 Million for Individual Development Accounts to Help Iowans Build Assets
The Iowa Credit Union Foundation (ICUF) recently received a grant from the Assets for Independence (AFI) Individual Development Account (IDA) Program in the amount of $257,920 for ICUF's Credit Union Family Partnership IDA Program. This brings the total funds for the ICUF IDA program to $1.2 million, which have been raised through a variety of public and private sources over the past two years. ICUF's program is the only statewide IDA program in Iowa.

IDAs are matched savings accounts where the savings of a participant is matched by a grant from another organization. The savings and matching funds are used by the individual to purchase a specific asset, such as a home, starting or expanding a small business, paying for education or job training, or purchasing a vehicle to get to work. Participants must meet income guidelines to qualify for an IDA account and must participate in financial education seminars.

The additional funds for the credit union IDA program has allowed ICUF to expand the program to an additional nine Iowa credit unions, bringing the total number of credit unions participating to 18 reaching 91 of Iowa's 99 counties. To date, the IDA program has more than 36 Iowans saving for a variety of assets including homes, vehicles, and education. In July, the first credit union IDA saver, Christy Mart, purchased her first home in Wallingford Iowa with $6,000 in funds from the IDA program.

The following credit unions offer IDAs and provide financial education to IDA savers:

. 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
. Telco Triad Community Credit Union
. Veridian Credit Union
. Village Credit Union

Over the next five years, ICUF hopes to connect 500 Iowans to an IDA account. To accomplish this, ICUF works with a number of partners across Iowa including:

. Iowa Community Action Association
. Iowa Department of Human Rights
. The Abilities Fund
. IowAble Foundation
. Iowa Homeownership Education Project
. Coopera Consulting
. Iowa Credit Union League

Limited Edition Prints Still Available-Order by October 30!
There is still time for you to own an original piece of art depicting 100 years of credit union history! Brian Duffy, former Des Moines Register cartoonist and award-winning illustrator, has created 100 limited edition, signed and numbered prints to exemplify the 100 Year Celebration of Credit Unions.

This print is a perfect addition for your credit union lobby, staff room, your home or office and is available to purchase on high-quality, full-color 19x23 inch paper. This artwork helps serve as an inspirational reminder of the many credit union successes. Please note: this print is larger and on more high quality paper than the one given out at Convention. Download order form.

All proceeds will benefit ICUF. To order, please contact Marybeth Foster at 515.221.3001 or marybethf@iowacreditunions.com Deadline to order is October 30, 2009.

ICUF Announces 2010 FIB Scholarships
ICUF is pleased to announce the start of the 2010 Family Involvement Board (FIB) Scholarship program. A total of $5,750 will be awarded. The high school scholarship competition will award a total of $3,750. The first place prize is $1,500; second place is $1,000; third place is $750 and fourth place is $500. The nontraditional scholarship category will award two $1,000 scholarships.

Applicants must complete the entry form and write an essay that is no less than 500-600 words on the following topic:

Research continues to show if students receive financial education early in life, they will become more successful. How will being financially literate help you achieve your individual dreams?

Judging will be based on originality, grammar, clarity and meaningful content of the essay. The deadline for applications is February 5, 2010. Winners will be notified via mail by April 16, and the results will be posted on IowaCreditUnions.com.

Applicants can apply online at http://www.iowacreditunions.com/asp/fib/FIBApp.asp. Electronic copies of the application can be found on the members-only site under Foundation location under the Community & Media Outreach tab. We encourage you to place the online application link on your credit union's website.

If you have any questions about this year's competition, please contact Marybeth at 800.860.6180 x3001or Cindy Love at x3012.

Sponsor a Teacher's Credit for Attending the Jump$tart Financial Literacy Conference
For several years, Iowa credit unions have sponsored staff development and graduate credit costs for teachers who attend the annual Iowa Jump$tart Financial Literacy Conference, which has been much appreciated by those recipients.

Cost of the credit ranges from $65 to $130, depending on which institution the teacher is seeking the credit.

ICUF is seeking 14 credit union sponsors for teachers from the following communities: Pleasantville, Tipton, Oakland, Garner, Ankeny, Mt. Vernon, Marne, Ames, Hamburg, Algona, Osceola, Elkader, and Cresco.

If you are willing to provide a scholarship, please contact Marybeth at 515.221.3001 or marybethf@iowacreditunions.com.

Credit Unions Support the Children's Miracle Network
Thanks to everyone who voted for the University of Iowa Children's Hospital in the online "Gameroom Giveaway" presented by Xbox. More than 12 million votes were cast in a six-week period and U of I came in second, giving the hospital the "ultimate gameroom makeover from Xbox 360," according to the contest website.

As of September 30, 2009, Iowa credit unions and their members have generously donated $72,222 to CMN.

According to the University of Iowa Children's Hospital, where the majority of Iowa credit union donations go, the funds raised in 2007 were used to purchase three-dimensional mapping equipment ($275,000) and the funds raised in 2008 were used for pediatric research ($125,000).

The 2009 project will be decided in December and will likely be announced at the 2010 Credit Union for Kids' Day, according to Ashly Brown, assistant director.

Money Mammals seeks to reach 4,000 Iowa Kindergarteners
From the Iowa Society of CPAs

Did you know that pigs are flying all over Iowa? Well, not exactly pigs, but banks shaped like pigs. The Financial Literacy Task Force of the Iowa Society of CPAs has joined with the Iowa 4-H Foundation, a charitable 501(c)(3) organization, to deliver a financial literacy program to kindergarteners in the state of Iowa, and it involves piggybanks.

The program is called The Money Mammals: Saving Money Is Fun. Key to the program is the volunteer who, in person, introduces the program using a DVD and leads the students in a discussion. A component that contributes literally and intrinsically to the program's success is the plastic piggybank the volunteer speakers provide students and, in the pilot, the students have excitedly received. The task force has set a target of giving piggybanks to 4,000 four-to-six year old Iowans by May 2010 and would like to have the support of Iowa's credit unions to reach this goal.

What Is Money Mammals?
It is a 45-minute DVD presentation, which uses puppets, fun, catchy music, and an engaging story to make money lessons easily come alive for four-to-six year olds. The presentation discusses the difference between needs and wants, making choices, and the importance of saving. It incorporates several songs that keep kids entertained and engaged while learning the concepts and the recurring tagline of "share, save, and spend smart." Short questions at the end enable kids to repeat what they have learned.

After the presentation, the speaker gives each student a plastic piggybank and a nickel from the "share" jar. In addition, students are given a brochure with financial tips for all ages and written information about Money Mammals to take home. More details on the program and educators' testimonials are available on the ISCPA Web site at www.iacpa.org/sig/money_mammals.pdf.

Request for Support from Credit Unions
Imprinted on the banks is the Money Mammals' tagline "share, save, spend smart," which reinforces the concepts in the presentation. Cost per bank for the 2009-2010 joint project is in excess of $2.00, plus shipping and handling. In addition to the piggybanks, there is an approximate cost of $25/per 100 for printing the brochure with financial tips for all ages. We respectfully ask you to consider making a tax-deductible donation to help purchase piggybanks and the related brochure to ensure the success of this year's Money Mammals' program in Iowa.

Please make your checks payable to the "Iowa 4-H Foundation-Money Mammals" on the check. Mail it to the Iowa 4-H Foundation, Extension 4-H Youth Building, Iowa State University, Ames, IA 50011-3630. To access the foundation's IRS 501(c)(3) documentation, go to www.iowa4hfoundation.org/PDF/501c3.pdf. If you have questions or need more information about Money Mammals, contact the Iowa Society of CPAs, iacpa@iacpa.org, 515.223.8161 or call 800.659.6375.

MoneySmart Week 2010 Announced
The 2010 MoneySmart Week Iowa has been scheduled for April 17-24, 2010. Planning committees will begin meeting in November.

2010 National Youth Involvement Board Annual Conference Dates Announced
By Pam Swope, North Central Regional Coordinator

The National Youth Involvement Board (NYIB) Annual Conference is packed with professionals, experts and hot topics on reaching and serving today's Gen Y youth market under the age of 25. The 2010 NYIB conference will take place July 26-29 at the St. Louis Renaissance Grand in St. Louis, MO. Hotel rates are currently blocked for $119 per night and the conference price will remain the same as this year: $599 for conference only, or $749 for the conference and the pre-conference workshop.

Watch for more details soon at www.nyib.org. For more information on NYIB, contact Pam Swope: North Central Regional Coordinator at pam@nyib.org or 989.460.6225.

If you have any questions on the information above, please contact Marybeth at marybethf@iowacreditunions.com or at 515.221.3001.

Iowa Credit Union Foundation | 7745 Office Plaza Drive N Suite 170 | West Des Moines, Iowa 50266 | P 800.860.6180 | info@iowacreditunionfoundation.org