National Credit Union Foundation

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National Credit Union Foundation
Applying for Innovation Grants
A presentation of the
online at www.ncuf.coop
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Innovation Grants Target Members

• Innovation Grants reward CUs
• for innovative ways to reach
• People of Modest Means
• Working Families
• Low-Wealth Households
• New Americans young adults your neighbors are
  the next generations of credit union members!

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Innovation Grants Categories

• 1) Financial Education
• 2) Transaction Services
• 3) Savings
• 4) Credit
• 5) Home Ownership

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Innovation GrantsCriteria

• Financial Education
• Ongoing NCUF grant commitments support credit
  union organizations participating in national
  financial education programs including Biz Kid
  and the National Endowment for Financial
  Education (NEFE).
• New Innovation Grants can assist credit unions
  participating in the above national programs, or
  other initiatives consistent with the financial
  education components of REAL Solutions providing
  financial counseling, product awareness, and
  staff training.

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Innovation GrantsCriteria

• Transaction Services
• Innovation Grants support transaction services
  that help credit unions attract underserved
  consumers. Examples include
• check-cashing
• money orders
• pre-paid stored value cards
• remittances
• second chance/fresh start checking
• tax preparation

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Innovation GrantsCriteria

• Savings
• Innovation Grants support programs that help
  credit union members with low wealth establish
  and maintain savings. Examples include
• prize-based savings
• safe accounts for new immigrants
• savings challenges
• step-up CDs

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Innovation GrantsCriteria

• Credit
• Innovation Grants support initiatives that help
  non-prime borrowers build and improve credit
  through credit unions. Examples include
• alternative credit reports
• citizenship loans
• first and last rent loans
• flexible loan policies
• non-prime used car loans
• score-builder loans
• thin-file loans

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Innovation GrantsCriteria

• Homeownership
• Innovation Grants support responsible programs
  that help credit union members with lower credit
  scores qualify as first-time homebuyers.
  Examples include
• foreclosure assistance loans
• green loans
• Home Loan Payment Reduction (HLPR) mortgages
• Individual Taxpayer ID Number (ITIN) loans
• timely repayment rewards

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What We Do Not Fund

• Before you start your application, please
• note the types of grants we do not fund.
• The National Credit Union Foundation will not
  fund
• Projects that do not involve credit unions
• Positions for non-credit union organizations
• Equipment or technological upgrades
• Secondary capital
• Deposits into accounts of individual CU members
• Organizations that have a current Innovation
  Grant from NCUF (unless they are meeting their
  success measures)

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NCUF Grant ApplicationKey Sections

• Statement of Need
• Project Description
• Success Measures
• Partner Organizations
• Leveraged Funds
• Sustainability Plan
• Project Budget

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Statement of Need

• Describe the specific needs or problems your
  grant would address such as the need for
  financial education, transaction services, and
  savings or the lack of affordable credit and
  housing
• Cite data on the number of people affected in
  your field of membership or in your larger
  community. Explain how the data ties into your
  grant proposal.
• Describe who your grant would benefit. Include
  demographics of your target group(s).
• Build a compelling case for your grant.

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ProjectDescription

• Describe in greater detail how your project is
  (or will be) serving the stated needs.
• Explain how your project aligns with NCUFs
  mission to promote and improve consumer
  financial independence through credit unions.
• Predict the potential impact on your target
  group(s).
• Detail plans for implementation, your timeframe,
  and staff credentials.
• Address NCUFs Review Criteria in your narrative.

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Innovation Grants Review Criteria

• Relevance to NCUFs mission
• Potential impact on the community
• Capacity to implement the project
• Involvement of CUs, SCUFs leagues
• Evidence of strong partnerships
• Leveraged funds from the CU partners
• Sustainability to continue the project without
  annual grants from NCUF
• Evaluation of project to measure success

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Quality Innovation Grant Proposals

• NCUF defines quality Innovation Grant proposals
  as those that evidence
• Alignment with NCUFs strategy
• Innovation in products and services
• Replication potential for other CUs

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Strong Partnerships

• Partners help your grant make a greater impact
  in your community. Evidence of strong
  partnerships are those that bring
• Additional resources and staff
• New services
• Access to target groups
• Joint promotions
• Plan your project with partners so they become
  integral to the project.
• Include letters of support with your application
  to reinforce your partners role.

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Potential Partners

• Other credit unions
• Your League
• Community groups
• Schools
• Government agencies
• Other funders

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Leveraged Funds

• Where to draw leveraged funds
• Project Partners (other CUs funders, league,
  community groups, government agencies)
• Other Funders (private foundations, etc.)
• Your CU ( or in-kind support)
• Why to attract leveraged funds
• Diversify funding sources.
• Build a support base to sustain your program.
• Increase chances of earning grant .
• NCUF encourages gt 1-for-1 leverage/grant

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Sustainability

• No foundation can sustain every grant program on
  its own. Foundation funding should be pivotal,
  but not the sole source of support.
• Sustainability plans should include
• Projected Growth
• Future Staffing
• Future Funding
• Ongoing Partners

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SuccessMeasures

• After developing your projects goals, define
  ways to measure success.
• Success measures must be
• Specific
• Quantifiable
• Realistic
• Within the Grant Period

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ProjectBudget

• Columns for both Income and Expenses
• Income column should include your grant request,
  leveraged funds, and your cash dedicated toward
  your project. Break out how NCUF grant dollars
  would be allocated.
• Expenses column should include realistic project
  costs and specific line items.
• Total Income Total Expenses

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TechnicalAssistance

• Got questions? Need more information to
  finish your application?
• Go to the NCUF website (www.ncuf.coop), click
  Apply for a Grant, and youll find
• Frequently Asked Questions Answers
• Application Tutorial
• Guidelines Application Form

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NCUF Grants Staff

• Still have questions? Need to hear from a
  live person?
• E-mail or call the NCUF grants liaison
• Steve Bosack, Deputy Director
• sbosack_at_ncuf.coop
• [phone]

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Innovation Grants Review Process

• Grant applications sent by June 30 are first
  evaluated by panels of NCUF staff and experts
  from the credit union field using posted Review
  Criteria.
• Each application is scored by multiple panelists.
  Panel scores are then averaged so the pool of
  applications can be ranked by average score.
• Applications, average scores, and panel comments
  are sent to NCUFs Grants Committee.
• After another intensive round of meetings,
  rankings, and QAs, applicants are notified of
  the Grants Committees decisions by Sept. 30.

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Other Grant Sources

• State Credit Union Foundations Leagues
• NCUA (www.ncua.gov)
• Private Foundations
• Community Foundations (www.cof.org and
  www.communityfoundationlocator.org)
• Foundation Center (www.fdncenter.org)
• GrantStation (www.grantstation.com)

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NCUF Innovation Grants Source

• Community Investment Fund (CIF)
• Winner of The Association of Fundraising
  Professionals Award for Excellence in Fundraising

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How the CIF Works
The National Credit Union Foundation meets the
extensive standards of Americas most experienced
and credible charity evaluator.
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How the CIF Works
CU Invests in Corporate
The National Credit Union Foundation meets the
extensive standards of Americas most experienced
and credible charity evaluator.
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How the CIF Works
Corporates Generate Investment Returns
CU Invests in Corporate
3. Dividends are shared between the investing CU
and the Foundation 1/2 is donated to NCUF All
other earnings are returned to the investing CU.
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How the CIF Works
Corporates Generate Investment Returns
CU Invests in Corporate
1/2
1/4
CU
NCUF
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State Local CIF Uses

• CIF normally generates about 4 million in grants
  to State Credit Union Foundations and Leagues
  each year. Locally, CIF dollars fund
• Financial literacy
• Scholarships
• Development Education Social Impact
• Extending credit union services
• New and small CU development
• International CU partnerships
• Disaster relief

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CIF Investor Recognition Levels
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CIF Investment Options

• 90-day Notice Account
• Share account for maximum liquidity
• Certificates of Deposit
• 3-Year Fixed Rate
• 5-Year Fixed Rate
• Other Structured Products
• Structured products vary by offering from US
  Central and participating corporate credit
  unions.

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CIF Contacts

• To find the most attractive CIF rates and make
  investments, please contact
• Your Corporate Credit Union
• To discuss ways to make an impact with your CIF
  dollars, please contact
• Steve Delfin, Executive Director
• National Credit Union Foundation
• 1-800-356-9655 ext. 6769
• sdelfin_at_ncuf.coop

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Thank You!
Thanks to your support of the National Credit
Union Foundation, we receive thank you notes like
these from credit unions who have received grants
Your generosity and kindness will always be
cherished... You have made a real difference in
our lives May God bless everyone who gives to
people in need
The National Credit Union Foundation meets the
extensive standards of Americas most experienced
and credible charity evaluator.