ST. PAUL, Minn.—The Minnesota Credit Union Network said it has joined in the ownership of NetGiver, a CUSO which enables fee-free charitable contributions exclusively for credit union members through a mobile giving platform.
“Recognizing that individuals are focusing more on the values of companies that they choose to work with and are looking for ways to support their communities in this time of uncertainty, credit unions are positioned well to solve a growing problem for the giving community,” the MnCUN said.
The Minnesota network noted that with online donation platforms growing in popularity, nonprofit organizations that employ these platforms incur platform and/or processing fees that can significantly reduce the amount the nonprofit receives each year – a total that can exceed 7% of the $149 billion dollars given each year by individuals via credit or debit card.
“Credit Unions exist to serve their members and seek to exemplify the philosophy of ‘people helping people’,” said John Ferstl, chief operations officer of the MnCUN Network Service Corp. “Through NetGiver, credit unions have the opportunity to give back to the community with a real impact.”
Three Functions
The MnCUN said NetGiver serves three primary functions:
- Facilitates fee-free and direct giving to nonprofits, increasing the possible impact of every donation
- Supports and engages the credit union member through a unique and branded touchpoint
- Provides credit unions an exclusive tool to support community advocacy, and creates opportunities for member acquisition and retention
“The support of the Minnesota Credit Union Network and our participating credit union partners allows us to make a significant impact in the nonprofit giving space. We’re excited to have MnCUN behind NetGiver,” said Eric Berg, co-founder of NetGiver.