Vizo Financial Empowerment Grant

In partnership with Vizo Financial Corporate Credit Union, the CU Foundation MD|DC has established this grant to support credit union projects that address barriers to the well-being, economic growth, and prosperity of credit union members and their communities.

Geographic Scope

• Any credit union located in Maryland or D.C.
• Credit unions affiliated with the MD|DC Credit Union Association

Funding Details

• Maximum Award: $5,000 per grant
• Frequency: No more than one grant per credit union per year
• Application Timeline: Applications may be submitted at any time
• Implementation Timeline: Initiatives must be implemented and grant funds utilized within 12 months from grant approval date

Eligible Projects

Projects must address one or more of the National Credit Union Foundation's 12 Development Issues that act as barriers to financial health and well-being:

Grant-winning projects should focus on:

• Reducing dependence on predatory financial providers
• Building and improving personal financial management, saving habits, and wealth-building
• Providing financial coaching to improve credit worthiness and grow toward financial stability
• Addressing healthcare access, housing stability, food security, or nutrition education
• Providing meal, health, or hygiene product distribution programs for students

Eligibility

• Sole credit union or collaborative projects (with other credit unions and/or community organizations)
• Current financial position and financial need of credit union will be considered

Grant Objectives

• Create positive impact on community served
• Help credit union members attain financial stability
• Focus on removing barriers to economic and social advancement
• Have clearly defined goals and objectives

Other Requirements

• Grant requests must be accompanied by project budget and supporting documentation
• Applicants must have evaluation plan to measure both individual and community impact
• Projects must be completed and funds utilized within 12 months from grant approval
• Recipient credit union must use grant solely for stated purpose
• Grant Reporting Summary required after project completion
• Foundation reserves right to withhold future funds if funds are misused or reporting is incomplete
• New grant request may be submitted after completion of previous grant and submission of final report (within subsequent 12-month period)

Grant Reporting Summary Requirements

Must include:

• Overview and detailed explanation of how grant funds were allocated to achieve project goals
• Testimonials, videos, and/or success stories from beneficiaries
• Impact statement describing tangible, measured achievements

Funder Information

• Organization: The Credit Union Foundation of MD & DC in partnership with Vizo Financial Corporate Credit Union
• Website: cufound.org

Application Process

1. Complete Online Application Form for Vizo Financial Empowerment Grant
2. Required Information:
   • Credit Union Name (required)
   • Credit Union Address - Street, City, State, ZIP (required)
   • Grant Submission Contact - First Name, Last Name (required)
   • Contact Email (required)
   • Contact Phone (required)
3. Grant Details:
   • Purpose of Grant (required)
   • Amount Requested - up to maximum of $5,000 (required)
   • Project Name (required)
   • Total Project Budget (required)
   • Proposed timeline and anticipated completion date (required)
   • Note: Projects must be completed and grant funds utilized within 12 months of approval
4. Program Type:
   • Is this funding request for a new program or does the program already exist? (required)
   • New program
   • Existing program
5. Project Feasibility:
   • Do you plan to move forward with this project if you do not receive the total amount requested? (required)
   • Yes
   • No
6. Narrative Questions (all required):
   • Please summarize why your credit union is requesting this grant and how the grant will address barriers to the well-being, economic growth, and prosperity of your credit union's members and communities enabling them to achieve a better quality of life.
   • Please list the goals and objectives you hope to achieve through the project.
   • How will you initiate and perform your project program?
   • How will you evaluate the success of your project?
7. Budget and Supporting Documents:
   • Please provide a budget breakdown listing anticipated expenditures and total cost of the project. Include all other sources of income for the project (in-kind contributions, volunteer hours donated, etc.) (required)
   • Budget Breakdown Attachment - Max file size: 256 MB
   • Success Reporting Attachment - Max file size: 256 MB (optional)
8. Financial Sustainability:
   • Will your project be financially self-sustaining at the end of the grant period? (required)
   • Yes
   • No
9. Collaboration:
   • Are you collaborating on this project with another credit union or community organization? If so, please list the organization(s) and describe their participation with this project (required)