WASHINGTON -- The African-American Credit Union Coalition will be able to continue some of its ongoing mentoring, financial education and global projects thanks to dividends invested in the Pete Crear Fund.
National Credit Union Foundation Executive Director Steve Delfin recently presented a check for $79,657 to African-American Credit Union Coalition Chairwoman Barbara Stephens.
The check represents the most recent four quarterly dividends from the Pete Crear Fund, a donor-designated fund within the Community Investment Fund, according to NCUF. Credit unions that invest in the Crear Fund designate the dividends to benefit the AACUC. The money will be used for AACUC programs supporting financial education, mentoring, and small credit unions.
Launched in 2004 by the AACUC and named for Pete Crear, president/CEO of World Council of Credit Unions, the fund is administered through the NCUF. Over the past few years, the fund has helped the AACUC with a number of projects including assisting credit unions impacted by Hurricane Katrina, sponsoring several credit union executives in Africa to attend training institutes in Nairobi, Kenya, and helping to offset costs for the AACUC's growing internship program.