TULLAHOMA, Tenn.– Ascend Federal Credit Union has donated $175,000 to the National Credit Union Foundation to support its financial health and well-being initiatives.
The bulk of the donation – $150,000 – was given to the Foundation’s FinHealth Fund, while $25,000 will support other Foundation programs, the credit union said.
Ascend FCU previously made a $20,000 donation to the Foundation in 2020.
“One of Ascend’s most important goals is to help our members be excellent stewards of their hard-earned money so they can achieve their financial goals,” said Caren Gabriel, Ascend president and CEO. “This donation will help the National Credit Union Foundation create and implement sustainable programs that provide credit union members and employees across the country with the resources and knowledge to build a better financial future.”
‘More Validation’
Added Gigi Hyland, executive director of the National Credit Union Foundation, “This sizable contribution to the FinHealth Fund is yet more validation that credit unions recognize the need to improve financial well-being for all, and are willing to fund the work. Having a partner like Ascend Federal Credit Union make such a visible commitment as this should serve as a rallying cry to the rest of our system. It tells other credit unions that the three outputs of the FinHealth Fund are important, necessary and, perhaps most exciting of all, happening right now.”
Ascend FCU said the donation comes from its Charitable Donation Account (CDA), which was established in November 2017 and which allows Ascend to generate revenue from investments to support various charitable endeavors.
Three Efforts
The Foundation said its FinHealth Fund, which was officially launched at the end of January with a fundraising target of $10 million, will finance a five-year program focused on three interrelated efforts:
- Creating a national resource library – case studies, toolkits and other resources – to help credit unions embrace financial well-being for all as a strategic imperative
- Providing education and upskilling for credit union employees to establish a workforce ready to passionately serve people where they are in their financial lives
- Supporting industry-wide consumer research, data capture and analysis to prioritize efforts and quantify improvements to members’ financial health.
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