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CUs in Three More States Support NCUF

MADISON, Wis. - Credit unions in North Dakota, Kentucky and Nevada began supporting the National Credit Union Foundation's Community Investment Fund, lifting the number of states with credit unions investing in the fund to 46. Amy Swanstrom, spokeswoman for the NCUF, declined to list the remaining states without contributing credit...

By Staff Writer | Updated on June 22, 2004

MADISON, Wis. – Credit unions in North Dakota, Kentucky and Nevada began supporting the National Credit Union Foundation’s Community Investment Fund, lifting the number of states with credit unions investing in the fund to 46. Amy Swanstrom, spokeswoman for the NCUF, declined to list the remaining states without contributing credit unions, saying that the Foundation had not wanted to “put them on the spot.” The investments from the new credit unions helped lift the CIF as well from $323 million in the previous quarter to $327 million. “The growth of the Foundation’s Community Investment Fund is a testament to the passion of the national credit union movement to continue making a difference in the lives of America’s consumers,” said Mary Cunningham, NCUF vice-chair and CEO of USA Federal Credit Union. “The funds the Foundation receives as a result of these deposits are invested directly back into grants that not only support the Foundation’s mission on a national level, but help local credit unions reach millions of consumers that are under-served in their communities.” Some of the CIF growth came from Missouri credit unions, seven of which have started to invest or to increase their investments in the CIF in the last four months, according to the Missouri Credit Union Association. The seven credit unions invested $2.1 million in the four months, lifting the state’s total investment to $9.5 million. Only CUs in nine states have invested more than Missouri CUs, the Association noted.

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