Illinois Credit Union Foundation
The Illinois Credit Union Foundation is a public charity based in Naperville, Illinois. It supports charitable and educational goals related to state- and federally chartered credit unions, including grants to help credit unions provide employee health care plans and to support professional development and financial health initiatives.
Illinois Credit Union Foundation at a glance
In short: Illinois Credit Union Foundation gave $653K across 42 grants in 2024 (avg $16K), mostly in Illinois. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $652,690
- +224.6% vs 2023
- Grants made (2024)
- 42
- +162.5% vs 2023
- Average grant
- $15,540
- +23.7% vs 2023
- Median grant
- $10,000
- Total assets
- $2,723,110
- +33.5% vs 2023
- Primary geography
- Illinois (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to Illinois Credit Union Foundation
- Contact
Mailing address: 1807 W Diehl Rd, Naperville, IL 60563-1890
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Illinois Credit Union Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Midwest Members CU ($61K). Together the top 10 received $298K.
Grant Size Distribution
73 grants across all recorded years
The most common grant size was under $50K: 67 grants of 73 (92%).
Geographic Focus
Where this funder awards grants
All reported grant dollars in filing year 2024 went to recipients in Illinois.
Grant Distribution by State
Share of 2024 grant dollars across all 42 itemized grants.
States
Cities
How Illinois Credit Union Foundation gives
Estimate from itemized grant lists in IRS Form 990 filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $86K (2021) to $653K (2024). In 2024 it made 42 grants totaling $653K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Various Naperviile, IL | Various grants under 5,000 | $107,167 |
| Midwest Members CU Wood River, IL | Associated HealthCare Plan | $61,407 |
| Encurage Financial Network Chicago, IL | Associated HealthCare Plan | $47,613 |
| Commonwealth CU Bourbonnais, IL | Associated HealthCare Plan | $31,547 |
| Redbrand CU Bartonville, IL | Associated HealthCare Plan | $31,295 |
| The Credit Union For All CU Bloomington, IL | Associated HealthCare Plan | $24,633 |
| U S Employees CU Chicago, IL | Associated HealthCare Plan | $21,148 |
| Access CU Broadview, IL | Associated HealthCare Plan | $19,825 |
| United Equity CU Decatur, IL | Associated HealthCare Plan | $19,613 |
| Education Personnel CU Danville, IL | Associated HealthCare Plan | $18,107 |
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Financial History
Multi-year comparison from IRS filings
The Foundation reported 42 grants in 2024, 16 in 2023, and 5 in 2022.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $2,723,110 | $1,352,214 | $668,148 | $652,690 | 42 | $85,457 |
| 2023 | $2,039,044 | $1,094,945 | $251,219 | $201,053 | 16 | $56,423 |
| 2022 | $1,195,318 | $361,867 | $167,889 | $120,357 | 5 | $15,272 |
| 2021 | $1,001,340 | $223,016 | $118,659 | $86,374 | 3 | $561 |
| 2020 | $896,983 | $324,854 | $359,617 | $319,391 | 7 | $5,245 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s stated mission is to “Promote charitable and educational goals as they relate to State and Federally chartered Credit Unions.” Its filing describes grants to help establish and launch a group health care plan for credit union employees, with the aim of achieving economies of scale. It also describes grants to small credit unions for professional development and special projects promoting financial health and well-being initiatives.
The Foundation says grants are provided for educational or charitable purposes in the credit union industry and are subject to specific guidelines. Its filing identifies the Illinois Credit Union League as a supported organization.
Grantmaking
In filing year 2024, the Foundation reported 42 grants totaling $652,690. Grant amounts ranged from $5,073 to $107,167, with a median of $10,000. Many of the largest itemized grants supported an associated health care plan. These included $61,407 to Midwest Members CU, $47,613 to Encurage Financial Network, and $31,547 to Commonwealth CU. The largest itemized entry was $107,167 to “Various,” described as “Various grants under 5,000.”
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Michelle Balog as Chair, Kerriann Mills as Vice Chair, and Susan Toalson as Secretary. Directors listed are Lou Bicanic, Geraldine Burek, John Fiore, John Hansen, Michael Lee, Thomas Pierce, and Amber Scott.
Illinois Credit Union Foundation is led by Melanie Murphy, Executive Director on every filing since 2020; none of the 17 officers listed in 2024 report compensation.
Officers on the 2024 filing
Melanie Murphy
Executive Director
On filings since 2020
35 hrs/week
No compensation reported
Michelle Balog
Chair
Secretary → Vice Chair, 2022
Vice Chair → Chair, 2024
On filings since 2021
5 hrs/week
No compensation reported
John Fiore
Director
Chairman → Director, 2022
On filings since 2020
1 hr/week
No compensation reported
John Hansen
Director
On filings since 2020
1 hr/week
No compensation reported
Lou Bicanic
Director
Vice Chairman → Chairman, 2022
Chairman → Director, 2024
On filings since 2020
1 hr/week
No compensation reported
Michael Lee
Director
On filings since 2020
1 hr/week
No compensation reported
Thomas Pierce
Director
On filings since 2020
1 hr/week
No compensation reported
Geraldine Burek
Director
On filings since 2021
1 hr/week
No compensation reported
Sarah Vega
Director
On filings since 2021
1 hr/week
No compensation reported
Amber Scott
Director
On filings since 2023
1 hr/week
No compensation reported
Jose Garcia
Director
New on the 2024 filing
1 hr/week
No compensation reported
Joseph Kregul
Director
New on the 2024 filing
1 hr/week
No compensation reported
Michael Abraham
Director
New on the 2024 filing
1 hr/week
No compensation reported
Pete Fauth
Director
New on the 2024 filing
1 hr/week
No compensation reported
Tom Kane
Director
New on the 2024 filing
1 hr/week
No compensation reported
Kerriann Mills
Vice Chair
Director → Secretary, 2022
Secretary → Vice Chair, 2024
On filings since 2021
5 hrs/week
No compensation reported
Susan Toalson
Secretary
Director → Secretary, 2024
On filings since 2022
5 hrs/week
No compensation reported
Former officers (5)
- Former: Wendy Erhart (2021–2022) — Director
- Former: Matt McCombs (2020–2021) — Director
- Former: Ann Dubie (2020) — Director
- Former: Thomas Lex (2020) — Director
- Former: Thor Dolan (2020) — Secretary & Treasurer
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Illinois Credit Union Foundation
How much does Illinois Credit Union Foundation give each year?
Illinois Credit Union Foundation gave $653K across 42 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $201K across 16 grants.
What is Illinois Credit Union Foundation's typical grant size?
Illinois Credit Union Foundation's median grant in 2024 was $10,000, and its average grant was $15,540, across 42 grants on its 2024 IRS Form 990.
Where does Illinois Credit Union Foundation give grants?
Illinois Credit Union Foundation gives mostly in Illinois: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Chicago, IL (4 grants), Bourbonnais, IL (3 grants), Danville, IL (3 grants) and Decatur, IL (3 grants).
Does Illinois Credit Union Foundation give general operating support?
Not in 2024: none of the 42 grants with a stated purpose on Illinois Credit Union Foundation's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Associated HealthCare Plan" (24 grants) and "Grant" (16 grants).
Who are Illinois Credit Union Foundation's largest grantees?
Illinois Credit Union Foundation's largest 2024 grantees include Midwest Members CU ($61,407), Encurage Financial Network ($47,613) and Commonwealth CU ($31,547), according to its 2024 IRS Form 990. Together they received 22% of its itemized 2024 grant dollars.
How large is Illinois Credit Union Foundation?
Illinois Credit Union Foundation reported $2.7M in total assets on its 2024 IRS Form 990. Its revenue that year was $1.4M.
What does Illinois Credit Union Foundation fund?
The Foundation’s stated mission is to “Promote charitable and educational goals as they relate to State and Federally chartered Credit Unions.” Its filing describes grants to help establish and launch a group health care plan for credit union employees, with the aim of achieving economies of scale. See mission & focus areas ↑
How do I apply for a grant from Illinois Credit Union Foundation?
Illinois Credit Union Foundation has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Illinois Credit Union Foundation's EIN?
Illinois Credit Union Foundation's EIN (Employer Identification Number) is 36-2994028. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 2, 2025)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Illinois Credit Union Foundation funds
Public, Societal Benefit Open opportunities, soonest deadline first.
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Browse active grant opportunities in Illinois Credit Union Foundation's focus areas in our free grants database
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