Financial Education Grants

​The National Credit Union Foundation is addressing the critical issue of financial education needs of children and youth in foster care. Apply by August 20.

The National Credit Union Foundation (Foundation) invites credit unions to join in addressing a critical issue: the financial education needs of over 400,000 children and youth in foster care. These at-risk youth face unique challenges, including a higher risk of identity fraud. But it doesn't stop there. Studies show lower rates of higher education enrollment and limited access to support systems among foster youth.

Ready to make a difference? Let's empower these vulnerable individuals with the knowledge and tools to navigate their financial futures successfully!
 
Grant funding opportunity!
The Foundation is offering $173K to credit unions of any size to establish programs supporting foster youth with basic financial education in budgeting, credit, and banking solutions.
 
Eligible credit unions will have the ability to open savings accounts and checking accounts for this demographic while also providing timely financial education and well-being information for youth in preparation for aging out of the foster care system. 
 
The Foundation’s objective with this funding is to achieve the following impact:  

• If youth in foster care receive training on basic financial education skills, will this improve their financial health and resilience at the time of aging out of the system?
• If youth in foster care are provided with the ability to open savings accounts, will this encourage savings behaviors and provide this demographic with a financial safety net once they turn 18? 
• What impact does improving financial health in this demographic have on other economic barriers such as housing and access to education? 
• What planning resources/advice is needed to help participating institutions take concrete action and have an impact on this at-risk population?  

 
Minimum requirements: 
The Foundation is looking for credit unions of any asset size who are willing to stand up programming and products to serve this demographic. Credit unions can apply by using the links below. Once applications are received, assessed, and approved, the Foundation will divide available funding amongst qualified participants.  
 
This grant effort will run through September 2025. Total funding of up to $173,000 is available and will be applied to credit unions once a finalized work plan is provided. 
 
CLICK HERE TO APPLY NOW.
 
The deadline for applications is close of business on Tuesday, August 20, 2024. 
 
For more information on the Foundation’s grant program, contact Christine Hickey, Financial Health Program Manager.