The National Credit Union Foundation (NCUF) is encouraging credit unions to submit grant proposals to the Financial Capability Innovation Fund II (FCIF II), an initiative led by the Center for Financial Services Innovation (CFSI), the nation’s leading authority on underserved consumers. FCIF II will provide valuable financial and technical assistance to innovative nonprofit-led interventions designed to promote financial capability among low-income and underserved consumers. Credit unions are able to submit applications in response to CFSI’s recently released Request for Proposals that outlines the competitive process for distribution of $2.5 million of grant funding.
NCUF’s board recently voted to refresh its annual grant program in order to make a bigger impact with its philanthropy. Instead of making a number of smaller grants for different projects, NCUF will now make one large grant to a single project with national reach and relevance to the credit union system. NCUF is working closely with CFSI to find and fund a compelling project that not only promotes financial capability among low-income consumers but also has significant impact to the credit union movement.
“CFSI receives a plethora of groundbreaking proposals and we want to elevate the number of ideas proposed by our community,” said Bucky Sebastian, NCUF Executive Director. “We hope that a significant amount of proposals will stem from credit unions – working on their own or in concert with other organizations. There is a strong connection between the member centric, community based mission of credit unions and the goals of CFSI and the Financial Capability Innovation Fund II.”
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