Endowment giving, unlike annual giving, provides long-term, restricted funding. It is a way for you to support the future of the Foundation. The New York Credit Union Foundation has several endowment funds.
An endowment is defined as a fund of money, the principal of which is held in perpetuity and invested, from which an organization may use only the return on investment.
- The Chairperson's Endowment was established in 2005 through donations made in the name of John Gibardi who was the outgoing Chair of the Credit Union Association of New York at that time. The income earned from this fund is to be used for general operations.
- The Harold Korman Endowment was established in 2005 in memory of a credit union industry pioneer. The income from this fund is to be used for initiatives that support smaller asset size credit unions.
- The Sidney Stahl Educational Endowment was established in 1995 in memory of a man who played a significant role in the NYS credit union movement. The income from this fund is to be used for credit union education and training.