MADISON, Wis. – The National Credit Union Foundation announced two new grant opportunities it said are designed to bolster credit unions’ ability to offer financial coaching and combat hunger.
Applications for both grants are now open, with the Foundation saying it is encouraging credit unions to apply.
The Financial Empowerment Through Coaching grant will pay for up to 10 credit unions to receive the Pathways to Financial Empowerment service. The service was launched in 2015 by Inclusiv and Neighborhood Trust Financial Partners to help credit unions integrate financial coaching into their operations through best-in-class financial coach training and licensing of a digital platform to track member outcomes, the Foundation said.
Automatic Enrollment
Successful applicants will also be enrolled in Inclusiv’s new Financial Empowerment Learning Center training to ensure the successful adoption and integration of the Pathways program.
“We’re excited to partner with the Foundation on this grant to help more credit unions launch and operationalize successful, holistic financial coaching programs,” said Ann Solomon, Inclusiv’s senior vice president. “The need for member-centric financial coaching is clear, but the idea of launching an in-house program can be daunting for any credit union. Pathways simplifies the process by delivering interactive, cohort-based training as well as our digital platform to streamline coaching engagements and impact tracking.”
Second Grant Opportunity
The Foundation said the second grant opportunity will provide credit unions with up to $10,000 to enhance or establish a sustainable financial well-being program focused on addressing the issue of hunger.
“Food insecurity affects almost 34 million people nationwide and is one of the key Development Issues the Foundation identifies as a fundamental barrier to achieving financial freedom,” the Foundation stated.
“Recent data shows that the nation’s financial health continues to worsen through record-high inflation, economic uncertainty and widening wealth gap,” said Chad Helminak, the Foundation’s chief impact officer. “These two grants present a timely and important opportunity for credit unions to strengthen their commitment to improving financial well-being in their communities.”
The Deadline
The deadline for submissions is 5 p.m. ET, Nov. 11. Successful applicants will formally begin their grant projects in January 2023.
Additional information is available on the Foundation’s website.
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