MINNESOTA CREDIT UNION FOUNDATION logo

Small Credit Union Technology Assistance Grant

MINNESOTA CREDIT UNION FOUNDATION

Funding Amount

Up to $10,000 or 50% of total project cost, whichever is less

Deadline

Rolling / Open

Grant Type

foundation

Overview

Small Credit Union Technology Assistance Grant

Overview: The intention of this grant program is to provide funding to help small credit unions best serve their members and to help the credit union thrive and grow. The focus of these grants is technology needs, not capital equipment or operations.

Geographic Scope: Minnesota

Eligibility:

  • Minnesota Credit Union Network members with assets of less than $100 million

  • Stated goal of funded project must address a primary challenge of the credit union

  • Credit unions may apply for one Small Credit Union Technology Assistance grant per year
  • What They Fund:

  • Technology needs: hardware and software, apps, upgrades, replace and repair critical equipment/platforms

  • Member access services: mobile banking, texting, etc.

  • Online services: new/upgraded website, new or enhanced features to reduce fraud
  • What They Don't Fund:

  • Capital projects

  • Operating expenses

  • Staff time

  • Dues and regulatory fees
  • Application Process: There is no application deadline; requests are accepted throughout the year (rolling basis).

    Reporting Requirements:

  • Grantees must submit a Final Progress Report at end of project (supplied by Foundation)

  • Success measurements based on stated project goals and outcomes

  • Must submit copy of paid invoice(s) relating to project with Final Progress Report

  • Grant amount reimbursed following receipt of report
  • Contact: Minnesota Credit Union Foundation, 555 Wabasha Street North, Suite 200, Saint Paul, MN 55102

    How to Apply

    Application Process

    Required Information:
    1. Applicant name (first, last)
    2. Title
    3. Email address
    4. Asset size
    5. Number of members
    6. Number of employees
    7. Dollar amount of grant request (maximum $10,000 or 50% of total project cost, whichever is less)
    8. Short summary of the project
    9. Goals and objectives of the project - what you hope to achieve (must address a primary challenge of the credit union)
    10. How program will benefit/impact members and how you plan to sustain project in future
    11. Project timeline including start and completion dates and/or assessment dates
    12. Project budget with uploaded bids/invoices (max file size 20MB)
    13. Credit union support confirmation - either applicant is CEO or has CEO's approval to apply

    Submission: Online form submission required

    Focus Areas & Funding Uses

    Fields of Work

    small-businessestechnology

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