The $5.8 billion Suncoast Federal Credit Union recently donated $50,000; $394 million Centris CU donated $1,000; and $286 million Self-Help CU has contributed $500 to the effort, according to the African-American Credit Union Coalition.
The AACUC has been working with the Martin Luther King Jr. National Memorial Project Foundation [www.mlkmemorial.org] to raise funds to build the Washington-based memorial and educational center that will feature the civil rights icon's life and accomplishments. With the latest donations from the credit union industry, more than $800,000 has been pledged, the AACUC said. The industry has been presented with a $2 million goal.
Credit unions with more than $1 billion in assets are being challenged to meet the $50,000 that $478 million Vantage Credit Union has already donated to the memorial's fund, said Hubert Hoosman, president/CEO of Vantage and AACUC treasurer.
The memorial's design and construction costs are approximately $66 million and have already been raised, according to the foundation. The remaining $34 million will be divided between three trusts that will insure proper funding for national park service maintenance and education programs, as well as funding for the maintenance of the unique visitors' center.