Financial Literacy Grant Application - CrossState Credit Union Association

The intention of this grant program is to support financial literacy programs that advance financial literacy skills to credit union and the community members in the CrossState network. These programs can be for new programs, expanded, or modified programs. Innovation is encouraged. It can be for materials and technology. Grants are evaluated on credit union value, community impact, collaboration, and creativity. You may apply for one Financial Literacy grant per calendar year. There is no application deadline; grants are accepted throughout the year.

Grant Types

School, adult, and/or workplace education programs: classes, podcasts, blogs, media, etc.
Print, audio, and/or visual materials to create or purchase
Financial literacy website development
School Branch development
Financial Reality Fairs: kit or materials purchase, etc.

Eligability

Any credit union or chapter in Pennsylvania and New Jersey
Credit unions can partner with schools and non-profit organizations. The credit union must submit the application.
The credit union or chapter applicant must agree to invest 50% of the total project cost
The Foundation does not fund operating expenses, dues, and regulatory fees

Application Materials Needed

Application from the credit union, signed by the CEO
Copies of bids/estimates or invoices for the project (The product cannot be purchased prior to the grant approval).
Request Summary
School Agreement (for School Branch Development)

Awards

Financial Literacy awards will be a maximum of $10,000 or 50% of the total project cost, whichever is less.
A credit union may receive a maximum combined total of $10,000 in Foundation funding per year across the grant Categories (Financial Literacy, Small Credit Union Assistance, Professional Development, Disaster Relief), but may not apply more than once each year per Grant Types above.

Reporting

Grantees must submit a Final Progress Report at the end of the project that is supplied by the Foundation. Success measurements will be based on stated goals and objectives to the credit union and/or its members.

Section 1 – General Information

Are you a credit union or chapter?(Required)

Credit Union

Chapter

Name of Credit Union or Chapter(Required)

Charter #(Required)

President/CEO/Manager’s Name(Required)

President/CEO/Manager’s Job Title(Required)

Address(Required)

CU Contact’s Name(Required)

CU Contact’s Job Title(Required)

CU Contact’s Telephone(Required)

CU Contact's Email(Required)

Name of Partnering Organization (if any)

Asset Size(Required)

# of Members(Required)

# of Employees(Required)

Has the applicant applied for another Foundation grant this year?(Required)

Yes

No

Unsure

Section 2 – Project Information

What type of grant are you applying for?(Required)

If "Other," Please Specify

What is the name of this project?(Required)

Summary description of this project.(Required)

Explain why you are requesting this grant; what is the need being addressed by this grant?(Required)

What are the goals and objectives of this project? What do you hope to achieve? (Please make sure to provide anticipated numeric outcomes. For example, # of presentations to # of people, etc.)(Required)

How do you plan to sustain this project in the future?(Required)

How will this program benefit/impact your members and/or community and how many people do you anticipate will be impacted?(Required)

When will the project start and end?(Required)

Does the applicant agree to invest at least 50% of the total project cost?(Required)

Does the applicant agree to report the results of this project to the Foundation?(Required)

Section 3 – Budget

Add additional lines as needed. Attach bids/estimates or invoices for the project. (The product cannot be purchased prior to the grant approval).(Required)

Project Expenses

Description

Amount

Total Cost of Project(Required)

Total Requested from the Foundation(Required)

50% of the total project cost, or a maximum of $10,000, whichever is less.

Attach bids/estimates or invoices for ths project.

Drop files here or

Max. file size: 300 MB.

Section 3.5 – Financial Assessment of Credit Union

Net Worth Ratio(Required)

YTD (Current Year)

Prior Year

Two Years Prior

ROA(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Delinquency Ratio(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Charge Off Ratio(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Operating Expense/Asset Ratio(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Loan/Asset Ratio(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Loan Growth(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Asset Growth(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Membership Growth(Required)

YTD (Current Year)

Prior Year

Two Years Prior

Part 2: If Net Worth Ratio is under 8 and/or ROA is negative for any of the three periods listed above, please explain how this will be addressed. If any other adverse or weak financial ratios or trends are shown, please explain how this grant will benefit your credit union members and positively impact these ratios or trends.

Section 4 – President/CEO/Manager Signature

Total Grant Request $(Required)

Name(Required)

Title(Required)

Signature(Required)

Date(Required)

Final Section – Grant Checklist

GRANT CHECKLIST(Required)

Have you completed all information on this application?

Have you attached any bids or invoices for the project?

Have you completed the budget detail?

Have you included your Request Summary?

Have you explained your plan for sustainability?

Has the credit union’s CEO signed this application?