MADISON, Wis. – Seven credit unions or organizations that workwith credit unions have been the recipients of $313,000 from theNational Credit Union Foundation as its third and last fundingcycle for 2004. The seven support the Foundation's mission ofhelping consumers improve their financial well-being. The $313,000brings to almost $14 million the total amount of grants since itsinception. The seven institutions with their grant amounts areAlternatives FCU in Ithaca, N.Y. to extend and expand its VolunteerIncome Tax Program (VITA) ($25,000); Operation HOPE in Los Angelesto provide financial education through credit unions($50,000);Spokane Neighborhood Action Programs (SNAP) in Spokane,Wash. for financial counseling and education ($31,000);ArizonaSaves in Phoenix for financial education and wealth-building($15,000); Red Lake Co-op FCU in Red Lake Falls, Minn. for a datasystem upgrade ($6,300); Immaculate Conception Church in Camden,Miss. to establish a credit union branch in an underserved lowincome area ($36,000); and Financial Health CU in East Lansing,Mich for financial education and access to financial services forthe disabled ($150,000). “The mission of the National Credit UnionFoundation is to help consumers achieve financial independencethrough credit unions,” says Chuck Purvis, NCUF's board chair andsenior vice president of Coastal FCU in Raleigh, NC. “Foundationgrants are approved to assist worthy projects in support of ourmission by improving access to affordable financial services,promoting financial literacy or improving asset accumulation,” hesaid. In addition to monies received from the NCUF, these projectswill leverage nearly $1.8 million in additional funds and areexpected to impact nearly 5,000 consumers, NCUF estimated. “Thedistribution of these grants is just the first step in realizingour goal,” added Purvis. “The dedication of the grant recipientswill ensure the estimated measures of success are achieved.” -

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