Credit Unions Award Nearly $1.4 Million in Community Grants

Five credit unions have announced nearly $1.4 million in grants supporting community organizations and initiatives so far this December.

On Friday, the SECU Foundation, the charitable arm of the $50.6 billion, Raleigh, N.C.-based SECU, and the North Carolina Coastal Federation (NCCF) announced a new partnership with the goal of protecting and enhancing the environment in five North Carolina coastal communities. The partnership includes a $250,000 challenge grant from the SECU Foundation, which will support a three-year expansion of NCCF resilience projects.

According to SECU, NCCF serves the coastal zone of North Carolina, which includes 20 counties and over 100 municipalities that have areas struggling with poverty, extreme racial disparity and economic inequity. In 2022, NCCF’s restored over seven acres of oyster reef and nearly 2,000 acres of wetlands, and cleaned up nearly 420 tons of marine debris, the credit union noted.

“This project is a wonderful opportunity to proactively support coastal communities by protecting and restoring our state’s coastal areas that are threatened by environmental and economic challenges,” SECU Foundation Executive Director Jama Campbell said. “This valuable and important work will help sustain community infrastructure and ensure future cultural and economic opportunities for residents, visitors and our state.”

Since Dec. 5, four other credit unions made sizeable grant announcements in their respective communities:

• Veridian Credit Union ($7.1 billion, Waterloo, Iowa) awarded $90,000 in grants to 24 organizations across Iowa and eastern Nebraska. Partnering with the Community Foundation of Northeast Iowa, Veridian administers Successful Financial Future Grants from the Veridian Credit Union Fund annually of up to $5,000 each to nonprofit organizations that address barriers to financial stability through financial literacy and employment readiness.
• Nusenda Credit Union ($4.3 billion, Albuquerque, N.M.) said its charitable arm, the Nusenda Foundation, distributed $634,100 in Community Rewards grants to 108 organizations, all of which are working to create positive change and produce economic opportunities across New Mexico. This annual grant program is funded through a financial collaboration between the credit union and its members – when members make 10 or more signature-based transactions each month with their Nusenda Visa debit card, they receive cash back and also contribute to Community Rewards grants. Members can choose to allocate their support geographically and specify one of five focus areas: Education, health care, environment and wildlife, the arts and community service.
• Ventura County Credit Union ($1.3 billion, Ventura, Calif.) held its inaugural Celebrating Our Community event at its Ventura headquarters Dec. 5 in recognition of the Foundation of VCCU’s distribution of $115,000 in grants to 25 organizations in California’s Ventura and Santa Barbara counties throughout 2023. Representatives from all 25 organizations were present at the event, which will be held annually going forward.
• Desert Financial Credit Union ($8.3 billion, Phoenix, Ariz.) awarded grants ranging from $5,000 to $15,000 to 26 Arizona nonprofits focused on education, child and youth services, housing and human services. The credit union’s 2023 grants totaled $300,000, representing the largest grant cycle to date, an increase of more than 25% compared to 2022 and more than double the amount awarded two years ago. This year’s recipients were selected through a formal application and review process.