Every year, the Cornerstone Foundation provides grants to eligible credit unions, chapters, and individuals. As you plan your budget for 2022, remember that the Foundation can help with many of your financial needs via a Credit Union Development Grant—including some needs you might not have considered.
For instance, in addition to staff and volunteer training opportunities and professional development, the Foundation offers financial assistance for chapters, planning sessions, equipment for branches and offices, hardware and software upgrades, mobile deposit, online banking, Hispanic outreach initiatives, and audits and assessments that are not required annually or biennially. You can even apply for a separate scholarship to attend Southwest CUNA Management School.
But don’t delay. The application deadline for grants is Feb. 25, 2022.
A great example of the application of the Credit Union Development Grant comes from UP Arkansas Federal Credit Union, which received a grant to assist with expenses related to audits. The credit union uses Cornerstone Resources for bank reconciliations, and their goal was to purchase and implement Check 21 software and equipment at each teller station to streamline audits and transactions.
As a result of the Foundation grant, UP Arkansas was able to purchase the Check 21 software, which enables digital copies in the system, reduces processing time, and increases teller efficiency.
“The implementation of the Check 21 software and check scanners has allowed us to process our own checks and made the employees’ workflow more efficient,” said UP Arkansas CEO Karyn Davis. “In addition, our members’ experience has been enhanced, as they can now see the checks they deposit immediately on their mobile app and the website platform.”
To learn more about the Foundation’s Credit Union Development Grants and eligibility requirements, please visit our website.
If you have questions, please contact Foundation Grants Manager Emily Moreno at firstname.lastname@example.org or 214-334-3397.
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