Credit unions now have a new way to support consumer financial efforts in their own state and nationally.
The National Credit Union Foundation has established a charitable lead trust as an expansion of options from the existing Community Investment Fund. It allows the NCUF to receive annual payments for three to five years based on a percentage of the market value of the assets held in the trust.
The funds are used to support programs and grants provided by the NCUF and state credit union foundations, and after that three- to five-year period is up, remaining assets are returned to the credit union.
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