Utah League Unveils School Aid Foundation

SALT LAKE CITY – The Utah League of Credit Union is coming to the aid of public education in the state by unveiling a grant foundation that will aid new “pilot” school programs as well as assist teachers with out-of-pocket expenses. The new foundation, called “100% for Kids,” was announced in a press conference last month and comes amidst a well-orchestrated campaign by the state’s banking lobby to focus lawmaker and public attention on CUs as a source of revenue to bail out public education in the state. Like many states with huge budget deficits, Utah has seen a sharp drop in revenues for schools triggering calls by bank-friendly legislators to urge elimination of CUs’ tax-exempt status as a means of raising needed revenue. The issue surfaced most recently in September during a meeting of the Utah Board of Education by a retired state legislator and ex-banker linked closely to former GOP U.S. Sen. Jake Garn, also a former bank executive. The League stressed that “100% for Kids” is a program that has been in the works for months and was not inaugurated for political reasons, “although we’re sure the bankers will put their spin on it,” said a League spokesman. ULCU President Scott Earl said the foundation underscores how Utah CUs have worked hard over the years “to benefit Utah schools and the results have been positive.” But now, he said, the League can “focus our energies and resources” in this area in line with basic CU beliefs that individuals can accomplish more working together “on a non-profit basis than by dealing with for profit financial institutions.” At a news briefing, the League disclosed the first $10,000 grant in “100% for Kids” would go to a minority Salt Lake City school, Woodrow Wilson Elementary, to provide basic classroom supplies. The supplies include paper, scissors and tissue boxes, all from a “wish list” provided by school administrators, said the League. More schools will be added to the list during the year to receive further League funds. The Wilson school was chosen because it is a Title 1 facility with a minority population nearing 50% and also has a high turnover rate. Curt Doman, president of Granite Credit Union of Salt Lake City and vice-chairman of the foundation, said the grants are expected “to reach into the tens of thousands.” They will be conferred upon schools proposing specific, innovative classroom-level programs that meet certain “credit union values.” “We’re going to fund worthy projects that are based upon and promote the things that credit unions represent,” said Doman and that includes virtues such as “cooperation, self-reliance and empowerment, responsibility, teamwork and innovation.” -