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National Foundation Encouraging CUs to Participate in CFPB Initiative to Build Consumer Financial Capability
Tuesday, November 3, 2015 6:30 AM

Foundation Offering Additional Grant Assistance to Selected CUs

In a notice sent this week, the Consumer Financial Protection Bureau announced an opportunity for organizations to participate in their 2016 Your Money, Your Goals Cohort. The National Credit Union Foundation’s is not only encouraging credit unions to participate in this CFPB initiative, but is committing three small-dollar grants of $5,000 each, totaling $15,000, to support any credit unions that get selected for this effort.

According to a notice sent this week from Zach Teutsch of the CFPB Office of Financial Empowerment:

“We are looking for approximately 20 organizations from around the country who are interested in using the Your Money, Your Goals toolkit to help build the financial capability of the people they serve. We are interested in working with organizations that serve low-income and economically vulnerable populations. These may include public and private social service, faith-based, legal aid, volunteer, and worker-focused organizations. Members of the 2016 Your Money, Your Goals Cohort will receive training, toolkits, and technical assistance. Technical assistance will include support for your organization as it develops and executes its 'Your Money, Your Goals' implementation plan.”

“This is a great opportunity for credit unions to leverage tools and resources to further enhance their financial capability efforts,” said Gigi Hyland, Foundation Executive Director. “Improving the financial well-being of members is at the core of what credit unions do and our work at the Foundation, which is why we are happy to support this endeavor.”

Read more about the opportunity and selection criteria online here

Credit unions interested in participating in this initiative can send CFPB a Letter of Interest at empowerment@consumerfinance.gov by Nov. 10 with the subject line Your Money, Your Goals 2016. 

“If your credit union does get selected for this CFPB initiative, please email Lois Kitsch at lkitsch@ncuf.coop for grant funding information from the Foundation,” noted Hyland.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation (the Foundation) is the charitable arm of the U.S. credit union movement and works as a catalyst to improve people’s financial lives through credit unions. Through Foundation grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.  Donations to the Foundation enable credit unions to help their members reach life-changing goals and achieve financial freedom.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. The Foundation continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.