The National Credit Union Foundation has achieved one of its long-term fund raising goals, developing a mechanism that individuals can use to support NCUF programs.
The foundation has long relied on investments from credit unions and some credit union leagues in a program called the Community Investment Fund to fund its different programs. The foundation invested money it took into the CIF in safe investments like long-term certificates of deposit and then shared the interest with the investors. The mechanism worked well for many years, but the current lower interest environment only heightened the foundation's desire to expand its donor base.
"We have spoken about this before," explained National Foundation executive director Bucky Sebastian. "The CIF worked and works very well, but we need to expand and broaden our base of support-primarily to get more people involved," he said, calling the foundation announcement last week a first step.
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