The Louisiana credit union embarked on the effort to help members deal with the impact of declining credit scores.
As some credit unions around the country gear up to apply for grant money from the U.S. Treasury’s Community Development Financial Institutions Fund, there are indications that credit unions are gradually becoming more sophisticated about navigating the grant writing process.
Spokane, Wash.-based CU Strategic Planning won more money for credit unions than any other team of grant writers did, the firm said.
"We are helping credit unions to survive during tough times," said Amy Rapp, a senior manager at Western Bridge Corporate Federal Credit Union.
As credit unions budget for 2011, many financial managers are searching for revenue sources, as traditional money makers like consumer loans and investments still aren't performing to historical norms. Business services and innovation may be the answer.