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

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

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

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

Canvas for a Cause allows organizations to raise money by inviting supporters to attend a three-hour art class, according to IMCU in Indianapolis. The cooperative said it came up with the creative fundraiser as a way to extend the reach of its corporate giving.

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

Participants pay $40 each, which includes art supplies. After the credit union pays for supplies and other expenses, the remaining 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 six Canvas for a Cause parties and more events are scheduled during the holidays, Emery said. The credit union trademarked the Canvas for a Cause name, she added.

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

Shannon Mullen, a branch manager at IMCU who serves on the board of Plainfield Community Schools Legacy Foundation, a local nonprofit organization, participated in one of the artistic fundraisers.

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

Mandy Emery, vice president of community involvement at Indiana Members Credit Union (left), and Shannon Mullen, a branch manager at IMCU, created masterpieces during a Canvas for a Cause fundraising event.

The $412 million Educational Community Credit Union's #makeastatement campaign encouraged members to sign up for electronic statements by offering cash incentives and a way to support local charities.

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

Each member who switches to eStatements during the promotion period can select one of three local organizations: Kalamazoo Nature Center, Fresh Food Fairy and Southwest Michigan Land Conservancy.

Staff at Educational Community were polled to see which three local, green-friendly organizations they wanted to support, Judy Swafford, marketing supervisor at the credit union, said. At the end of the campaign, $3,000 will be divvied up among the organizations.

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

Some credit unions have even created loan promotions that benefit 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 that participated this year in the Community Challenge program.

The community-wide effort has an interest savings goal that triggers a predetermined donation to local charities when the goal is reached, according to Dan Altenbernd, COO of MemberTree Consultancy, a division of Fargo, N.D.-based H2M, which oversees the program.

During the first two years of UTF's Community Challenge, members cut interest expense by $3.6 million and local charities received more than $31,000, according to 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 cooperative launched the Shine On campaign that included a friendly competition among six 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 youth development, according to Desert Schools.

The contest is being promoted through social media and a dedicated website.

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

Instant Insights /

Credit Unions Get Clever to Support Local Causes

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