With Hispanics becoming the nation's fastest growing minority, many credit unions are making it a priority to fulfill the needs and earn the trust of this underserved market. Reflecting the growing importance of Texas credit unions efforts to embrace New Americans, the Texas Credit Union Foundation (TCUF) created the Richard L. Ensweiler Fund. This portion of the Community Investment Fund (CIF) will allow credit unions to specifically designate their investments to promoting Hispanic outreach initiatives across Texas.
Contributions to the Richard L. Ensweiler Fund will benefit the Texas Credit Union Leagues (TCUL) statewide Hispanic Outreach Program - an initiative that will empower credit unions to better serve this underserved group.
The CIF, which began accepting investments Jan. 1, 1999, is a partnership between the National Credit Union Foundation (NCUF), the Association of Corporate Credit Unions (ACCU), and the American Association of Credit Union Leagues (AACUL). CIF provides funds for national and state level development initiatives and serves as a stable source of funding for NCUF grant making and endowment growth. Distributions received by each state are used to promote credit union development.
The CIF is an easy way for credit unions of all asset sizes to support both the TCUF and the NCUF, while still earning dividends to support their own operations. The CIF provides a steady and stable source of funding which is used, in conjunction with direct contributions, to support small credit union development and technical assistance grants. It is a win-win for participating credit unions and the state and national foundations.
For more information about the CIF, please visit the Grants section of the TCUF website or contact TCUF at (800) 442-5762, Ext. 6443.