X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – The National Credit Union Foundation has announced a reorganization to accommodate its changing role within the credit union movement, according to NCUF leaders. “The change is in recognition of the Foundation’s new dual role, part “traditional foundation, part national financial intermediary,” said NCUF Chairman, John Fiore. As a national financial intermediary for credit unions, NCUF has already received a $1.4 million grant from the Treasury Department for credit union First Account programs in nine states. Similar requests are currently pending and more will be made in the future, the Foundation said. In addition, the Foundation recently received pledges of over $100 million in deposits to a fund set up to honor retiring credit union leader Ed Callahan. The donations triple the size of the Foundation’s Community Investment Fund, its primary funding vehicle. “We opened the door on federal funding earlier this year. Now that the door is open, we intend to keep it that way,” said Gary Officer, NCUF’s executive director. “There’s an enormous pool of government and other non-credit union funds that we, as an industry, do not take advantage of – funds that are literally there for the asking,” Officer said. “Securing those funds is a natural role for the Foundation, and we believe it will provide significant value to the credit union system.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.