FinHealth Fund

FinHealth Fund

Status: Designated fund established at National Credit Union Foundation (launched January 2021)

Geographic Scope: Credit union movement - national focus

Fundraising Goal: $10 million over five years

Initial Commitments:

CUNA Mutual Group: $1 million

BCU (Chicago, IL): $250,000

Coastal FCU (Raleigh, NC): $250,000

Local Government FCU (Raleigh, NC): $250,000

Redwood CU (Santa Rosa, CA): $250,000

Focus Areas - Three Interrelated Efforts:

1. National Resource Library

• Current work documentation
• Case studies
• Toolkits and other resources
• Help credit unions embrace financial well-being for all as strategic imperative

2. Education and Upskilling

• Credit union employee education
• Establish workforce ready to passionately serve people where they are in their financial lives
• Professional development programs

3. Industry-wide Research

• Consumer research
• Data capture and analysis
• Prioritize efforts
• Quantify improvements to members' financial health

Fiduciary and Governance:

National Credit Union Foundation acts as fiduciary

Advisory committee oversees and approves distributions

Mission Statement:
Improving financial well-being for all by scaling existing work across the credit union movement. Addressing the fragile and uncertain financial health of 166 million Americans through cooperative movement action.

Contact:

National Credit Union Foundation

Phone: 800-356-9655 x4397

Background:
Established in response to the financial fragility facing millions of Americans, this fund capitalizes a five-year program focused on creating systemic change through education, resources, and research across the credit union industry.