June 16, 2014

ALBANY, N.Y. – The New York Credit Union Foundation awarded nearly $53,000 in grants to New York credit unions and credit union professionals during the Foundation's first grant cycle, which took place January-May.

Forty-three Professional Development grants totaling $23,575 were awarded to employees and volunteers from 30 credit unions. The funds are used to help credit union professionals cover the costs of industry training sessions and education events.

Seven Small Credit Union grants totaling $17,989 were awarded to the following credit unions: Local 41 IBEW Federal Credit Union, Buffalo Cooperative Federal Credit Union, Greece Community Federal Credit Union, GRS Employees Federal Credit Union, South Towns Community Federal Credit Union, Spencerport Federal Credit Union and Upstate Milk Employees Federal Credit Union. The grants can be used for a variety of general operating needs—including technology upgrades, security improvements, and consulting services—that help to improve member service.

The Foundation also awarded five Smart Money grants totaling $11,253 to: Cooperative Federal Credit Union, Buffalo Metropolitan Federal Credit Union, Alternatives Federal Credit Union, CORE Federal Credit Union and ServU Federal Credit Union. Smart Money grants are used to assist with a variety of projects, including: youth or adult financial education programs, homeownership programs or services, financial counseling, savings and wealth building initiatives, tax preparation services, and initiatives that provide the unbanked with access to financial services.

"The Foundation is able to provide these important grants thanks to the enormous generosity of New York credit unions and individual supporters," said Foundation Vice President Allison Barna. "These grants allow credit unions to provide better service and better products that ultimately benefit the lives of their members."