Announcing NEW investment alternative: CIF with NCB
The Community Investment Fund (CIF) has recently been expanded to offer credit unions two options for earning dividends while supporting the National Credit Union Foundation (NCUF) and the New York Credit Union Foundation (NYCUF).
Credit unions can now participate in the traditional CIF with corporate credit unions—which has benefited the credit union movement for 11 years—or CIF with NCB, the thrift subsidiary of the National Consumer Cooperative Bank. For a quick one page overview of the unique features of both options
Unique Features of CIF with NCB |
Unique Features of CIF with Members United Corporate FCU |
Products offered include CDs with terms of:
Automatic CD rollover; credit unions must opt out at maturity. |
Products offered include CDs with terms of:
Credit unions must reinvest upon CD maturity.
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Contribution levels to NCUF and NYCUF can be:
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Share account holders can more than double their dividends by transferring to fixed-rate CIF CDs (C-40s at corporate CUs) |
Secure/easy online process to participate at www.CIFwithNCB.coop which requires the completion of two forms:
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No need to set-up a different account at another financial institution. Contact your corporate CU to participate. |
No requirement to purchase stock in NCB |
NCUA has authorized corporate CUs to waive the 90-day notice requirement when share account holders transfer directly to CIF CDs
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Deposits at NCB are FDIC-insured up to $250,000 per Tax ID through 12/31/13. On 1/01/14, the standard insurance amount will return to $100,000 per depositor.
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Corporate CUs are regulated by NCUA and share deposits in participating corporate CUs are insured and fully guaranteed by the NCUSIF. |
What is CIF?
The Community Investment Fund (CIF) is a unique, socially responsible investment opportunity for credit unions to support the work of the New York Credit Union Foundation (NYCUF) and the National Credit Union Foundation (NCUF).
CIF Investor Recognition Levels
| 1. Chairman's Club | .25% of assets or $2 M |
| 2. Leadership Circle | .10-.24% of assets or $1-1.9 M |
| 3. Investors' Circle | Up to .09% of assets or up to $1 M |
Use our calculator tool to help determine the investment level that's right for your credit union.
Thank you to our New York investors
CIF is proof that there really is strength in numbers.
How are the CIF funds used by the New York Credit Union Foundation? The CIF is the New York Credit Union Foundation's primary source of revenue. The earnings are used to help to fulfill the Foundation's mission of serving credit unions, schools and community organizations that improve the financial literacy and independence of New Yorkers, and promote the credit union difference.
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Not-Yet A CIF Investor? Join the winners' circle. |
