DUBUQUE, Iowa–DuTrac Community Credit Union has made a gift of $1.3 million to the Iowa Credit Union Foundation to establish a new DuTrac Community Credit Union Fund. The DuTrac Fund is a donor-advised fund that will be administered by ICUF.
According to the organizations, the creation of the DuTrac Fund will allow the credit union to provide support to organizations that serve vulnerable communities in Iowa, while investing the money to grow over time.
“The Iowa Credit Union Foundation is the perfect partner for the creation and administration of the DuTrac Fund,” Andrew Hawkinson, CEO of DuTrac Community Credit Union, said in a statement. “Their expertise in the management of charitable funds will assist us in oversight and administrative responsibilities, while allowing our staff to continue their focus on what we do best – serving our members.”
This year the Foundation has launched a donor-advised fund program that will allow credit unions, such as DuTrac, to create their own charitable funds.
The ‘Vision’
“In our 25th anniversary year, I cannot think of a better way to celebrate than in working with DuTrac Community Credit Union in maximizing their charitable impact. This aligns with our philanthropic vision of being the hub for credit union philanthropy,” Jaimie Miller, executive director of ICUF, said in a statement. “We are excited to partner with DuTrac Community Credit Union on the administration of these charitable dollars and to help them locate areas of opportunity and ultimately be of service to more Iowans in need across the state.”
Hawkinson added, “Our vision for the DuTrac Fund is that we will be able to help vulnerable communities in our state. If there is a natural disaster anywhere in Iowa, we want to be able to quickly get funds there to help. Gathering funds at the state level and concentrating disbursements to those assisting Iowans helps us fulfill our mission and live the credit union philosophy of ‘people helping people.’ ”
The $1.3-million donation from DuTrac Community Credit Union is the largest donation ever made to the Iowa Credit Union Foundation. The $756-million DuTrac Community CU has approximately 47,685 members.