Though the Community Investment Fund, credit unions are able to financially support the Foundation’s scholarship and grant programs by sharing any portion of interest earned on any investment at Vizo Financial.
The Foundation offers a variety of investment options through its partnership with Vizo Financial, who manages the Community Investment Fund. This partnership allows credit unions to choose the best investment option for its asset-liability strategy while sharing a portion of the interest from those investments with the Foundation. Additionally, Vizo offers quarterly CD with the opportunity to share a portion of the interest with the Foundation.
Securities Option
Vizo Financial will ensure your credit union is set up to purchase marketable securities and to safekeep those properly. If your credit union doesn’t have a need to buy an additional security for this purpose, you can also choose to donate a portion of the earnings on a security you currently own and already hold in safekeeping with Vizo Financial.
SimpliCD Option
Vizo Financial will ensure your credit union is set up to purchase Certificates of Deposit through the SimpliCD program. Again, your Credit Union can choose to donate a portion of the earnings on a CD you already own in your current SimpliCD portfolio with Vizo Financial.
90-Day Floating Rate Account Option
Allows your credit union to simply transfer funds into a 90-day account at Vizo Financial. The account is a short-term account and has a variable rate, providing a nice benefit to both your credit union and the Foundation if interest rates move higher. After the initial 90-day commitment, the funds can stay in this account until your credit union chooses another investment option.