So far, Indiana Members Credit Union has raised almost $10,000through six Canvas for a Cause parties and more events arescheduled during the holidays to help schools and nonprofits.

When it comes to helping local charities, credit unions havedevised shrewd ways to strengthen their financial support.

Some cooperatives have even managed to add a charitable giving component to other promotions, such as loanspecials and e-signature campaigns.

The $1.4 billion Indiana Members Credit Union and Indiana Members Foundationlaunched a new traveling fundraiser this year that enables schoolsand nonprofit groups to host a painting party.

Canvas for a Cause allows organizations to raise money byinviting supporters to attend a three-hour art class, according toIMCU in Indianapolis. The cooperative said it came up with thecreative fundraiser as a way to extend the reach of its corporategiving.

“We were getting so many requests for donations from schools andnonprofit organizations so we wanted to come up with a way to helpthe groups raise money,” according to Mandy Emery, vice presidentof community involvement at Indiana Members Credit Union andexecutive director of Indiana Members Foundation.

Participants pay $40 each, which includes art supplies. Afterthe credit union pays for supplies and other expenses, theremaining funds are donated to the group that hosted the event.

“We donate about 60% of the class fees back to the organization,Emery said.

So far, the credit union has raised almost $10,000 through sixCanvas for a Cause parties and more events are scheduled during theholidays, Emery said. The credit union trademarked the Canvas for aCause name, she added.

Emery said the classes are led by James Martin, a local artistwhose mother used to work at IMCU.

Shannon Mullen, a branch manager at IMCU who serves on the boardof Plainfield Community Schools Legacy Foundation, a localnonprofit organization, participated in one of the artisticfundraisers.

“Working with Indiana Members Foundation through Canvas for aCause was a great way to host a fundraising event,” Mullen said.“It was easy to coordinate and raising money was simple. PlainfieldCommunity Schools Legacy Foundation gathered together a group oflocal business partners and residents to raise money for a greatcause and had so much fun doing it.”

Mandy Emery, vice president of community involvement at IndianaMembers Credit Union (left), and Shannon Mullen, a branch managerat IMCU, created masterpieces during a Canvas for a Causefundraising event.

The $412 million EducationalCommunity Credit Union's #makeastatement campaign encouragedmembers to sign up for electronic statements by offering cashincentives and a way to support local charities.

Members of the Kalamazoo, Mich.-based credit union who enroll ineStatements are entered for a chance to win $100 in a monthlydrawing and to help local organizations that benefit theenvironment, nature and wellness, according to the cooperative.

Each member who switches to eStatements during the promotionperiod can select one of three local organizations: KalamazooNature Center, Fresh Food Fairy and Southwest Michigan LandConservancy.

Staff at Educational Community were polled to see which threelocal, green-friendly organizations they wanted to support, JudySwafford, marketing supervisor at the credit union, said. At theend of the campaign, $3,000 will be divvied up among theorganizations.

“How much money they each receive will depend on how many membervotes they receive,” Swafford said.

Some credit unions have even created loan promotions thatbenefit local charities.

For example, the $317 million United Teletech Financial Federal Credit Union in Tinton Falls,N.J., is among seven credit unions across the country thatparticipated this year in the Community Challenge program.

The community-wide effort has an interest savings goal thattriggers a predetermined donation to local charities when the goalis reached, according to Dan Altenbernd, COO of MemberTreeConsultancy, a division of Fargo, N.D.-based H2M, which overseesthe program.

During the first two years of UTF's Community Challenge, members cut interest expense by $3.6million and local charities received more than $31,000, accordingto the credit union.

The $3.8 billion Desert Schools Federal Credit Union in Phoenix,also came up with a creative way to support local charities.

As part of its 75th anniversary celebration, the cooperativelaunched the Shine On campaign that included a friendly competition amongsix charities competing for a $30,000 grand prize.

In January, the six nonprofit organizations were each awarded$7,500 to launch projects focused on the arts, animal welfare,education, health, neighborhood beautification and youthdevelopment, according to Desert Schools.

The contest is being promoted through social media and adedicated website.

Voting ends in December and the grand prize-winning charity willbe announced in January 2015, the credit union said.