Community Grant Program — Launching 2020
The Carolinas Credit Union Foundation works with credit unions and partners throughout the Carolinas who are striving each day to enrich our communities. As not-for-profit cooperative financial institutions, credit unions are leading a movement that connects consumers with the opportunities they need to achieve financial success. To bolster those efforts, the Carolinas Foundation will be partnering with the Chapter System in 2020 to support projects spearheaded by local non-profits that support our youth. Community grants will be awarded, matching the fundraising efforts of credit union Chapters.
These grants will support youth initiatives including those focused on:
- Teaching financial health
- Feeding solutions for food insecurity challenges
- Healing opportunities for those in our hospitals, outpatient facilities and simply adjusting into society.
How will these grants be funded?
Funding for this collaborative grant program will be supported by:
- Direct donations from our industry to the Community Grant Fund
- Fundraising events to support the Community Grant Fund
- Investment earnings from the new Community Endowment Fund at Vizo Financial. Unlike a traditional endowment, credit unions will retain ownership of the deposit in the Community Endowment Fund and 100% of the interest will be shared with the Foundation to support matched grants with our Chapters. This will be a 0% yield deposit account on a credit union’s balance sheet and callable after five years. Both members and non-members of Vizo will be eligible to participate.