Dallas, TX (June 25, 2024) |
The African-American Credit Union Coalition (AACUC) has officially launched the second phase of the AACUC Future Fund campaign via a charitable donation account (CDA) fund with $26M in initial investments and ALM First serving as investment advisor.
The Future Fund is a bold, transformative funding source created to ensure the long-term strength and sustainability of the AACUC. Funding helps support and expand crucial programming that addresses the racial wealth gap, preserves small credit unions, lifts up low-income communities and spreads financial access and inclusion to the underserved. Plus, it creates an operating reserve that will ensure the continued reach of AACUC across the credit union movement.
“Beyond creating an important reserve, the Future Fund will bring scale to three essential pillars of our high-impact strategy for the credit union movement,” says Renée Sattiewhite, AACUC President and CEO. “By investing in the CDA fund, credit unions and other industry partners will support Internships and Leadership Development, Long-Term Small Credit Union Sustainability, and Wealth Building and Community Impact Programs.”
ALM First, a strategic partner for more than 300 financial institutions nationwide, offers Charitable Donation Accounts (CDAs) to assist credit unions in accessing special investment capabilities while supporting their community impact. By utilizing CDA funds, such as the Future Fund, credit unions can fund charitable contributions through investment returns rather than through operating income.
“We’re thrilled to serve as the investment advisor for the AACUC CDA Fund I,” says Emily Hollis, CFA and CEO of ALM First. “As a trusted partner, we bring a proven track record of performance and seek to simplify the investment process by improving transparency and control over investment decisions so our clients can have a bigger impact. We can’t wait to see the difference this type of long-term funding makes for the AACUC and the entire credit union industry.”
Credit unions interested in investing may find more information about AACUC’s Future Fund here. More information about ALM First’s full range of solutions, including charitable donation accounts and employee benefits pre-funding plans may be found at www.almfirst.com.