CUs Look Back & Look Ahead on Annual Giving Totals

This past week, two credit unions and one statewide credit union group revealed the total impacts of their charitable giving efforts in 2023, while two other credit unions announced their 2024 giving plans.

Employees with the $949 million Greater Texas|Aggieland Credit Union in Austin spent more than 1,500 hours volunteering in 2023, a more than 50% increase compared to 2022, as part of the credit union’s Greater Good campaign. Nearly 120 employees took part in one or more Greater Good projects in 2023, including large initiatives such as the House that Credit Unions Built for Habitat for Humanity as well as smaller projects to benefit Healing with Horses, Tango Charities, Austin Disaster Relief Network, the San Antonio Food Bank and Bastrop’s Empty Bowls campaign. In addition, Greater Texas donated $205,000 to Greater Good charitable causes throughout the year.

In Clinton Township, Mich., the $3.6 billion Michigan Schools and Government Credit Union said the credit union and its employees across its branch office network donated $269,000 to individuals and 259 organizations throughout 2023. What’s more, MSGCU provided over $155,000 in scholarships and Classroom Cash Grants to support local students and enhance local classrooms.

In addition, the credit union noted that it provided financial education to nearly 21,000 individuals through classroom presentations, Reality Fairs, in-person and virtual workshops, and through its blog and Interactive Financial Education platform last year.

Meanwhile, the Iowa Credit Union Foundation – the philanthropic arm of the Iowa Credit Union League – released its first-ever community impact report in 2023. Highlights included:

• Invested more than $165,000 in initiatives that aligned with its mission “to help champion financial well-being for all”;
• Announced a three-year, $150,000 investment in a new Financial Inclusion Grant initiative that will address barriers to financial well-being for minority populations in Iowa;
• Hosted its fifth annual ‘People Helping People’ Financial Coach Program, which trains credit union employees to help members navigate difficult financial situations and address financial inclusion needs;
• Awarded $23,000 to 12 Iowa credit union members pursuing post-secondary education through its Warren A. Morrow Memorial Scholarship program;
• Invested in the University of Northern Iowa’s Financial Skills for Smart Living Program, which provides educators with a personal finance curriculum empowering students with the skills to make informed financial decisions, for the fourth year in a row;
• Received a record-breaking charitable donation of over $135,000 from 50 credit unions in Iowa; and
• Received $45,000 in year-end gifts from Affiliates Management Company, the holding company of the Iowa Credit Union League and its affiliates, including Coopera, First Community Trust, N.A., ViClarity and PolicyWorks.

Continuing the movement’s efforts to positively impact communities in 2024, two credit unions unveiled big giving plans for the year.

Decatur Earthmover Credit Union ($293 million, Decatur, Ill.) and the Community Foundation of Macon County announced they have partnered on a $1 million funding collaboration called Moving Forward. The project includes four discretionary open-call grant programs: Places & Neighborhoods ($100,000), CommunityWorks ($400,000), Emergency Services Support ($100,000) and Impact200 ($200,000). An additional $200,000 in grant funding will benefit DEI, financial literacy, arts and summer education programs. Grants will be distributed throughout 2024 and funding will be granted in Illinois’ Macon, Moultrie and Piatt Counties as well as in Paris, Ill., where DECU provides services.

The UNFCU Foundation, the charitable arm of the $8.9 billion, Long Island City, N.Y.-based United Nations Federal Credit Union, revealed it will be providing $645,000 to 19 grant partners on three continents this year. According to UNFCU Foundation, the grant initiatives will align with its mission to “sustain pathways out of poverty for marginalized women and youth,” helping to provide these individuals with access to critical health care, livelihood training and quality education.

“We are thrilled to build upon our momentum and partner with organizations that are positively changing the trajectory of the most underserved members of society. This creates agency for women and youth to thrive,” UNFCU Foundation Executive Director Yma Gordon stated. “We look forward to another impactful year of collaborations and inspiration drawn from program participants overcoming incredible odds.”