EAU CLAIRE, Wis.–Royal Credit Union has received a $16,000 Targeted Impact Fund Grant from the Federal Home Loan Bank of Chicago. Funds will be used to support relief efforts for populations hardest-hit by the COVID-19 pandemic and to promote racial equity. Royal CU said it will also contribute funds to maximize the positive impact.
Royal has selected three nonprofits to receive the grant funds. These organizations are providing financial education, housing assistance, business assistance, and shelter at a critical time. The nonprofits also focus on serving important populations, including minority youth, women in business, and those who are homeless.
“SecureFutures seeks to empower teens through financial education. Many teens served have experienced money as a part of the barriers they face every day,” the credit union said. “They’ve seen the effects of the cycle of poverty, of predatory lending practices, and of discriminatory pay inequity. Youth are matched with a mentor and develop an action plan to achieve financial goals. Added President/CEO Brenda Campbell, "We are very excited about this partnership. There is so much synergy between our organizations and I love Royal’s passion for financial empowerment."
Royal’s Community Engagement team will soon collaborate with SecureFutures on a virtual Test Drive…Next Stop Reality program, which provides a real-life simulation of money and finances.
Western Dairyland Economic Opportunity Council provides housing assistance and operates homeless shelters. It also runs the Women's Business Center, where special efforts are made to assist economically and socially disadvantaged women.