The NJCUL Small Credit Union Committee’s
2006 Educational Financial Assistance Program
Credit Unions $10M and Under in Assets

What is the Financial Assistance Program?

For directors, volunteers and staff of small credit unions, acquiring much-needed education/training or essential equipment, software and other necessities for the effective operations of their credit union is often too costly. In 2003, The Small Credit Union Committee initiated a financial assistance program to help with these expenses. Proceeds from the sale of “The Credit Union Family Recipe Cookbook,” and future sales from the Entertainment books, make education and other vitally needed resources available to small credit unions.

Who is Eligible?

Financial assistance will be determined for credit unions that have $10 million in assets or less as of December 31, 2005. Assistance will be established on a first-come first-served basis and on the anticipation of direct benefit to the credit union.

How Are the Funds to be Used?

Funds granted are to be used for any League-approved education, equipment or operational resource such as the annual meeting, workshops, computers, software, and other technical materials. Based on funds available, each credit union that applies will be eligible for a maximum of $500 in 2006. Grants that are approved in 2006 must be used by December 31, 2006. Any remaining grant money (if the full $500 per credit union is not applied) will revert to the financial assistance account for use in future grants.

For programs or services sponsored by NJCUL, the League will give you credit for the cost, within established guidelines. For purchases outside the League, we will remit directly to the company. A pricing sheet, bill/invoice or paid receipt with the exact amount due/paid must accompany your grant application.

How Can My Credit Union Apply?

You will need to complete an application, giving the specific purpose of the grant and the amount requested. The funds must be used for a League-approved function or equipment and software, and will be determined on a first-come first-served basis based on the expected value to the credit union. Contact Jim Merrill at the League (800) 792-8861 (ext. 120) with questions or to request an application.