The Cornerstone Foundation’s Grants Committee has approved $251,603 in grant funds to support credit unions and chapters in their community outreach endeavors, financial capability initiatives, credit union development, and professional staff and volunteer development.
Among the 102 grants awarded, 94 grants totaling $237,353 support credit union and chapter development. Grant requests include, but are not limited to: Hispanic outreach, planning sessions, Europay, MasterCard, and Visa (EMV) conversions, technology, websites, online banking, professional development, and the Credit Union Development Educator program.
The Cornerstone Foundation has also awarded eight grants for financial capability totaling $14,250. Supporting these initiatives will build member and consumer financial capability, which aligns with Cornerstone Foundation’s mission and vision.
“Financial health is so important today, with approximately 63% of Americans currently living paycheck to paycheck,” Cornerstone Foundation Financial Capability Director Marina Garcia said. “For many families, the lack of financial education is a key contributor to their financial problems. That’s where grants for credit unions from the Cornerstone Foundation have made an enormous impact through financial capability initiatives.”
Cornerstone Foundation Grants Manager Emily Moreno said the Foundation strives to be a trusted partner in credit unions’ financial education efforts.
“In 2021, we look forward to expanding our focus on overall financial well-being and fully expect an increase in credit unions of all sizes taking advantage of our Financial Capability Grants,” said Moreno. “We strive to be seen as a trusted partner in credit unions’ efforts to educate and empower their members. Financial Capability Grants are open for credit unions to apply year-round.”