The Iowa Credit Union Foundation, the philanthropic arm of the Iowa Credit Union League, launched an emergency relief fund to assist Iowans in need during the COVID-19 pandemic, which has caused a major disruption to the state’s economy, the income of many Iowans and the health of small businesses across the state.
“Founded during the devastating floods of 1993, the Foundation is here to help again in this time of economic uncertainty,” Jaimie Miller, executive director of ICUF, said.
The Emergency Relief Fund will provide one-time $500 grants to individual Iowa credit union members experiencing financial hardship due to COVID-19. The Foundation will also fund grants for small businesses and statewide relief efforts.
“This new emergency fund, created from several generous donations from the credit union industry, is a true reflection of the ‘people helping people’ philosophy of credit unions and will enable us to do more to help vulnerable Iowans and communities across the state,” Miller emphasized.
Ten credit unions, Affiliates Management Company (the holding company for the Iowa Credit Union League) and individual donors have pledged $500,000 in lead gifts toward the establishment of the fund. These donations will provide support to individuals, small businesses and statewide relief efforts. The lead Iowa-based donors are:
- The $5.7 billion GreenState Credit Union: $250,000
- Affiliates Management Company/Iowa Credit Union League: $100,000
- The $4.3 billion Veridian Credit Union: $50,000
- The $1.8 billion Dupaco Community Credit Union: $25,000
- The $709 million Community 1st Credit Union: $15,000
- The $756 million DuTrac Community Credit Union: $15,000
- The $424 million Ascentra Credit Union: $10,000
- The $1.2 billion Collins Community Credit Union: $10,000
- The $468 million Linn Area Credit Union: $10,000
- The $1.4 billion IH Mississippi Valley Credit Union: $5,000
- Murray and Amy Williams: $5,000
- The $122 million Affinity Credit Union: $2,500
- Personal/Other Contributions: $2,500
“During this unprecedented time, Iowans are navigating unchartered waters and need help. GreenState Credit Union is proud to provide lead funding for the Foundation’s new Emergency Relief Fund. We, as well as all credit unions statewide, are committed to helping Iowans and local communities weather this storm,” Jeff Disterhoft, president/CEO of GreenState, said.
To donate or apply for a grant, visit the Foundation’s website. Grant applications and instructions will be available April 1.
All gifts made through this donation portal will be used for Emergency Relief efforts in response to COVID-19. Should any dollars remain in this fund following the COVID-19 response efforts, they will be used for future disaster relief efforts for Iowans in need. Gifts of all sizes are welcome.
To learn more about the status of credit unions and how they’re adjusting during the COVID-19 crisis to serve members, view this interactive map.