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Financial Fitness Grant Application Guidelines

Questions? Contact Diane LaVigna-Wixted at (800) 342-9835, ext.8186.

The financial fitness grantmaking program of the New York Credit Union Foundation provides credit unions with financial assistance for general operating needs that will ultimately help to improve member service.　

NEW Application Process: NYCUF is pleased to announce that the application form can now be completed and submitted online if you have Adobe Acrobat Reader version 6 or higher installed. Please note that you will not be able to save the document electronically. Be sure to print a copy for your files before hitting the "Submit" button. If you are unable to submit the application via email, please print the application and mail it to us.

Grant Range: $500-$2,500

Use of Grant Funds

Financial fitness grants may be used for a variety of general operating needs that result in faster ATM transactions for members, safer storage of important personal data, convenient at home banking services, security equipment, consulting services, or handicapped-accessible teller stations.

The applicant may request reimbursement for a purchase or service acquired between January 1 and June 30, 2008, or for an upcoming purchase or service as long as it is completed by December 31, 2008.

Deadlines

Financial fitness applications will be accepted through June 30, 2008.

The applicant will receive notification of a grant award decision within 5 weeks from the date of the application submission.

Review Criteria

NYCUF will evaluate the grant application based on your credit union’s financial need and performance.

Credit unions must demonstrate that the project was explored thoroughly prior to the grant application submission as requested in the narrative (see project description, questions a. and b.). Inclusion of supplemental materials (see attachments) is also required.

Funding Source

Funding for financial fitness grants is made possible through League Affiliates.

 

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Financial Fitness Project Types:

Many requests or types of projects will be considered for funding. Financial fitness encompasses programs and services that include, but are not limited to:

The purchase of computer equipment and/or software upgrades

The purchase of home banking software and/or an electronic bill payment system

Installation of computer security equipment such as system firewalls, network security and identity theft solutions

Establishing Internet access

Designing and/or enhancing a website

The purchase and/or improvements to facility security such as electronic dye pack solutions, closed circuit cameras, and vault protection

Upgrading phone systems

Development and/or production or marketing/promotional/member educational materials

The purchase of office equipment such as copiers, fax machines, furniture, supplies, coin counting systems

The purchase of Asset Liability Management software.

Offering member Share Drafts, Debit Card and/or credit card program.

Participation in an ATM network

The purchasing Disaster Recovery/Contingency planning software/solutions

The purchase of a policy management tools, such as Operational Policies and Procedures

Establishment of I/Rnet Service (International remittance)

Executive Recruitment and/or Search Expense including the Small CU Staff Survey

Improvement of office facility

Establishing a branch or satellite office