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For Immediate Release Contact: Patrick Harris Director of Media Relations Ohio Credit Union League pharris@ohiocul.org 800-486-2917

2011 OCUF Grants Emphasize CU Philosophy, Strengthen Leadership

67 grants total nearly $200,000 in credit union support in 2011

Columbus, Ohio (January 25, 2012) Thanks to the generosity of many credit unions, individuals, chapters, and business partners, the Ohio Credit Union Foundation (OCUF) awarded 67 grants in 2011, totaling more than $197,000, to assist credit unions, communities, and individuals across Ohio.

Notable OCUF grants in 2011 included more than $97,000 for reality day events, classroom visits, and two student-run credit unions that serve more than 6,000 high school students. A total of $35,000 in disaster relief was granted to help credit unions, their members, and communities in the U.S. and worldwide in the wake of six catastrophes. In addition, 43 professional development grants and three memorial scholarships totaling more than $50,000 was granted to strengthen leadership, credit union advocacy, and job expertise.

“The need for grants last year was greater than ever,” said Becky Hart, OCUF Executive Director. “The 2011 grantmaking budget was nearly depleted by the end of September and the Foundation Board of Trustees approved allocating money from its endowment fund to meet the increased demand, allowing OCUF to further help credit unions meet their training, outreach, and financial education needs.”

For 2012, the Board of Trustees established a $200,000 fundraising goal and the Foundation has $234,000 to grant this calendar year.

Also in 2011, OCUF partnered with the National Credit Union Foundation and Corporate One Federal Credit Union to create a renewed and re-energized Community Investment Fund (CIF) option. The new CIF gives credit unions a unique vehicle to support financial education, professional development, community outreach, and disaster relief initiatives in Ohio and across the country. The Corporate One CIF option offers credit unions the ability to choose products such as callable and bullet U.S. Government agency securities, as well as negotiable certificates of deposit, without a capital requirement. 

"Corporate One took the initiative to examine the traditional CIF model, with the goal of creating a new option that benefits investors and helps sustain OCUF and the national foundation,” said Hart.

Other major successes for the Foundation in 2011 include the debut of the William A. Herring Society, which raised more than $50,000 for the Foundation, and a re-tooled golf outing, which netted more than $20,000.

For information about how the Foundation promotes financial independence through credit unions, visit
www.ohiocreditunionfoundation.org.

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The Ohio Credit Union League, with offices in Columbus, is a state trade association representing 382 credit unions. Credit unions are not-for-profit financial institutions owned and democratically-controlled by their members. Ohio credit unions provide savings, loans, and other consumer financial services to their 2.68 million members. To learn more, visit www.ASmarterChoice.org.