Credit unions across United States awarded grant funds to empower foster youth
Foundation awards $298,125 to support credit unions in providing essential financial literacy programs for over 400,000 young people in foster care
MADISON, WI (October 17, 2024) — The National Credit Union Foundation (the Foundation) has announced the selection of nine credit unions granted funds for addressing the financial education needs of over 400,000 children and youth in foster care. These young individuals face unique challenges, including an increased risk of identity fraud, lower rates of higher education enrollment, and limited access to supportive resources.
In response to these pressing issues, the Foundation offered a total of $298,125 in grant funding to credit unions of any size, enabling them to establish programs that support foster youth with essential financial education in budgeting, credit management, and banking solutions.
These credit unions will have the opportunity to open savings and checking accounts for foster youth, providing them with not only financial products but also vital education and financial well-being resources as they prepare to transition out of the foster care system.
We are proud to announce the following credit unions as recipients of this grant funding:
- Allegacy Federal Credit Union
- Altra Federal Credit Union
- Colorado Credit Union
- First Credit Union
- Jefferson Credit Union
- Oklahoma Credit Union
- Revity Credit Union
- Rize Credit Union
- Virginia Credit Union
The Foundation’s objective is to facilitate meaningful change for this vulnerable population. Through this grant program, we are committed to helping credit unions develop effective programs and resources that will make a lasting impact on the lives of foster youth. Together, we can empower foster youth with the knowledge and tools they need to navigate their financial futures successfully
“By investing in the financial education of foster youth, we are not only empowering them with essential skills for their future but also fostering resilience and independence. This initiative represents a commitment to breaking the cycle of economic disadvantage and ensuring that every young person, regardless of their circumstances, can thrive,” said Christine Hickey, the Foundation’s Financial Health Program Senior Manager.
More information about the Foundation and additional grant opportunities can be found at ncuf.coop.
About The Foundation
The National Credit Union Foundation (the Foundation) is the charitable arm of the U.S. credit union movement and works as a catalyst to improve people’s financial lives through credit unions. Through grants and programs, the Foundation is strengthening financial well-being, igniting passion and instilling knowledge about the credit union difference, and uniting resources to help credit union people during disaster. Donations to the Foundation ultimately enable credit unions to help their members reach life-changing goals and achieve financial freedom.
