How to Apply for a Smart Money Grant

The New York Credit Union Foundation provides support to credit unions offering programs and services that help to foster the financial independence of New Yorkers through financial literacy and outreach efforts. The focus of the Smart Money Grant program is to assist in reaching and educating emerging markets, as well as individuals and families of low and/or modest means.

Application Process

The application should be completed, scanned, and submitted electronically, with all necessary information to This email address is being protected from spambots. You need JavaScript enabled to view it.. If you are unable to submit electronically, please mail all necessary documentation, including completed cover sheet to:

The New York Credit Union Foundation – Grants
PO Box 15118
Albany, New York 12212-5118

Grant Range

$500 - $3500

Eligibility Requirements

All federal- and state-chartered credit unions located in New York State are eligible to apply. In addition, Smart Money applications must be able to define anticipated program outcomes. The total amount of a grant award will vary for members and non-members of the New York Credit Union Association.

Use of Grant Funds

Smart Money Grants may be used for a variety of projects including, but not limited to, youth or adult financial education programs, homeownership programs or services, financial counseling, savings and wealth building initiatives, providing the "unbanked" with access to financial services and EITC tax preparation. Funds may also be used to assist credit unions in reaching underserved or emerging markets, including youth, older Americans and immigrant populations.

Review Criteria

Foundation will evaluate the grant application based on the credit union's financial need and performance.

    • Projects must have clearly defined, measurable and achievable goals and objectives.
    • No more than one Smart Money Grant application may be submitted for consideration per funding cycle.
    • Incomplete grant applications will not be considered.

Grant Award Limits

For Smart Money Grants, the award limit is $3,500 per credit union. This does not mean that your credit union is guaranteed $3,500 from the Foundation. This is a competitive grant making process; applications are reviewed based on specific criteria for each program.

Please note: Each credit union is eligible for a maximum of $5,750 in total grant funding per year. This includes all Professional Development, Small Credit Union and Smart Money Grants.

These guidelines are subject to modification at any time and are contingent upon the availability of funds. Unique circumstances may result in grant awards beyond the guidelines listed and by applying for a Smart Money Grant does not guarantee funding or the full funding allotment.