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.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.