In May 2009,
CSE Federal Credit Union opened at student-run branch in Timken High
School. The branch's first account was opened by
Rebecca Labowitz
(right), the
educator responsible for the credit union and school
partnership. Contributions to the Ohio Credit Union
Foundation enable grants for initiatives such as these to promote
financial independence through credit unions. |
|
2009 OCUF CONTRIBUTORS |
|
See the complete list of donors |
|
|
|
COMMUNITY
INVESTMENT FUND
Investors (As of Dec. 2009) |
|
Associated School ECU
AurGroup Financial CU
Bay Area CU
BMI FCU
Buckeye State CU
Burger FCU
Butler Heritage FCU
Cardinal Community CU
Cincinnati Central CU
Cincinnati Police CU
Classic FCU
Clyde-Findlay Area CU
CME FCU
Communicating Arts CU
Community United CU
Corporate One FCU
Credit Union Outreach Solutions Inc.
Day Air CU
Dayton Firefighters FCU
Directions CU
Dover-Phila FCU
Faith Community United CU
Fiberglas FCU
FireFighters Community FCU
FirstDay Financial FCU
Glass City FCU
Gorman Rupp and Associates CU
Harvest FCU
Hopewell FCU
Jeep Country FCU
Kemba CU
KEMBA Financial CU
Kent CU
Kyger Creek CU
Mercy Health Partners FCU
MidState Educators CU
Midwest Community FCU
Millstream Area CU
Ohio CU Foundation
Ohio Educational CU
Parish FCU
Sharefax CU
Superior FCU
Taleris CU
TeleCommunity CU
Toledo Postal ECU
TopMark FCU
Total Assurance FCU
Vacationland FCU
Western CU
Wright-Patt CU |
|
Five new CIF
investments
were made in 2009:
Bay Area CU, $100,000
Cincinnati Police FCU, $250,000
Credit Union Outreach Solutions, $100,000
Members Choice CU, $100,000
TeleCommunity CU, $100,000
Four credit unions increased
their contributions in 2009:
Community United CU, $100,000
Kemba CU $25,000
Millstream Area CU $80,000
Total Assurance FCU $5,000
11 credit unions
renewed their CIF Investments in 2009:
Buckeye State CU
BMI FCU
Cardinal Community CU
Cincinnati Central CU
Communicating Arts
Corporate One FCU
Directions CU
Hopewell FCU
Jeep Country FCU
Ohio Educational CU
Wright-Patt CU |
|
|
HOW TO GIVE
The Ohio Credit Union Foundation’s grantmaking efforts are funded
entirely through the generosity and support of the Ohio Credit Union
Movement. Funding sources include: contributions from credit unions,
business partners, chapters, and individuals; investments in the
National Credit Union Foundation Community Investment Fund (CIF); and
special event fundraisers.
|
|
► |
Credit
unions (approximately 30 – 35% of annual funding comes from credit
union contributions) |
|
|
► |
Community
Investment Fund (CIF) dividends (approximately 60% of annual
funding comes from credit unions’ investment in the CIF). A like
amount of dividends benefits the National Credit Union Foundation. |
|
|
► |
Individuals,
special events, business partners (approximately 5-8% of annual
funding) |
CONTRIBUTE TO OCUF
The
recommended donation for a credit union, as determined by the OCUF
Trustees, is calculated at a rate of $15/$1 million in assets.
Contribution checks should be made payable to the "Ohio Credit Union
Foundation." Individuals can also contribute to the OCUF.
Contributions to OCUF are tax deductible.
Download a contribution form
A federally-chartered credit union may make
contributions or donations to any nonprofit organization that conducts
activities in any community where the credit union has an office,
according to NCUA regulations.
Read the NCUA rules.
COMMUNITY INVESTMENT FUND
The Community Investment Fund (CIF) is a social investment option that
benefits your credit union, the National Credit Union Foundation (NCUF),
and the Ohio Credit Union Foundation (OCUF). It's simple: Your
credit union invests in a designated CIF vehicle through Corporate
One Federal Credit Union.
A new 2-year CIF option is available that is secured by a federal
guarantee. The National Credit Union Administration (NCUA) is
guaranteeing all principal and quarterly fixed-rate dividend
payments on new two-year CIF certificates of deposit. Normally, CIF
share account holders are required to give 90 days notice before
withdrawing, but NCUA has authorized corporate credit unions to
waive the requirement when account holders transfer directly to CIF
CDs. For investors with tight liquidity, special 90-day notice
accounts are available through Corporate One FCU.
To learn more about the new 2-year CIF option visit
http://www.ncuf.coop/home/news/subnews/NCUAGuarantees2YearCIFCD.aspx.
You can choose from a 2-year CD or a 90-day notice account.
Dividends are paid directly to your credit union, while up to 2% of
the CIF investment dividends are split evenly between the NCUF and
the OCUF. To make a CIF investment, call Corporate One Federal
Credit Union’s Member Services Department at (866) 692-6771.
Click here for more information.
We urge your credit union to consider a CIF investment to help support
educational and outreach initiatives that promote financial
independence through credit unions.
To learn more about the CIF, contact League Outreach Manager
Laura Busque at (800) 486-2917 or
lbusque@ohiocul.org.
|
|
