General Grant Making Focus
The Foundation supports initiatives that further its mission. In doing so, the Foundation makes grants to those individuals or organizations that are looking to raise their own financial literacy awareness, as well as small credit unions who would benefit from professional development opportunities or technical upgrades.
Priority will be given to the following:
- Projects on a statewide basis, or local projects that have significant replication possibilities;
- Projects with the capacity to spread financial planning information and skills to a very broad population;
- Projects targeted to disadvantaged, underserved or special needs populations;
- Projects that enhance credit union employees and volunteers' professional development skills through such things as classes, workshops, seminars, conferences or conventions;
- Projects that upgrade technical applications of the credit union through such things as new technology and accompanying workshops;
- Projects that offer direct services to the general public;
- Projects that provide support in areas served by New Jersey credit unions; and
- Projects that clearly match the Foundation's grant making focus.
Applicants must be a representative of a New Jersey credit union or be tax-exempt under Section 501(c)(3) or Section 501(c)(6) of the Internal Revenue Service Code, and must be classified as "not a private foundation" under Section 509(a) of the Code.
New Jersey Credit Union Foundation Technical Assistance Grant Parameters
Grants are available to New Jersey Credit Union League member credit unions under $50 million in assets in good financial standing.
In instances of regulatory burden or catastrophic events, the New Jersey Credit Union Foundation will consider grants to fund or help fund equipment purchases. The grant funds from the New Jersey Credit Union Foundation will cover the costs of equipment and/or software, but will not include training costs, licensing costs, or any recurring costs associated with the purchase(s).
Credit unions in good financial standing are considered to be capitalized at 7% or higher and have positive net income trends. The New Jersey Credit Union Foundation Board will review the applicant(s) Financial Performance Report from NCUA for the quarter closest to the request.
Normally, the Foundation will not fund:
- For-profit enterprises;
- Travel for groups or individuals;
- Political, fraternal or sports organizations or campaigns;
- Books, magazine articles or advertising in professional journals;
- Legislative or lobbying efforts;
- Programs or religious, except where they provide needed services to the community at large and do not include or promote a particular religious instruction or belief;
- Programs that do not fall in line with the Foundation's grant making focus; and
- Fees or stipends to financial planners.
Reality Fair Grants
To help credit unions off-set a portion of the cost of hosting a Reality Fair, the New Jersey Credit Union Foundation has grant available for NJ CU League member credit unions to apply for. The Foundation will consider grants for up to 50% of the cost of a New Jersey Credit Union Reality Fair up to a max of $2,500. The total cost of each Fair is based on the number of students participating; the cost is $18 per student. The Foundation will consider grant applications for up to two (2) fairs per credit union per school year.
Download the grant application here.