National Credit Union Foundation Reports on Financial Well-Being
National Credit Union Foundation Highlights 2024 Impact Report
The Foundation's impact report illustrates advancements over the past year.
The National Credit Union Foundation, recognized as the charitable sector of the credit union movement, recently released a forward-looking 2024 Impact Report. The report emphasizes the progress made in enhancing people’s financial well-being, underlining the Foundation's mission to act as a catalyst for positive change. By promoting financial literacy and supporting credit unions, the Foundation aims to drive significant improvement in the quality of life for individuals across the nation.
This comprehensive report showcases the various initiatives and efforts taken by the Foundation to aid the growth of credit unions and ensure their members, employees, and surrounding communities prosper. With a focus on innovation, education, and support, the Foundation continues to lead the charge towards a financially secure future for all.
Key Highlights from the 2024 Impact Report
Each year, the Foundation establishes goals and benchmarks to assess its effectiveness and contribution to the credit union industry. The 2024 Impact Report divulges several distinguishing accomplishments as follows:
1. Development Education & Engagement
In 2024, the Foundation's flagship program, the Exploring Why™ Workshops, along with various industry presentations, reached approximately 1,800 individuals within the credit union community. Many of these participants subsequently initiated impactful local projects, fostering lasting change in their neighborhoods.
2. Launch of the FinHealth Hub
The Foundation established a complimentary financial health resource center known as the FinHealth Hub. By the end of 2024, over 600 active users benefited from this invaluable tool, reinforcing their understanding of financial well-being. In addition, the Foundation organized six financial health webinars, drawing in more than 120 participants and offering robust support to credit unions advocating for financial wellness.
3. Grantmaking Success
Through its successful grant initiatives, the Foundation allocated an impressive sum of over $900,000 in grants in 2024. A noteworthy highlight includes the Foster Youth Financial Literacy Grant, which delivered essential financial education to more than 200 foster youth across nine different communities.
4. Response to Natural Disasters
Demonstrating remarkable resilience, the Foundation mobilized quickly to aid those affected by various natural disasters in 2024. In total, over $754,000 was distributed, benefiting 101 credit unions along with 972 dedicated employees and volunteers as they endeavored to rebuild their lives and communities.
Lauren Culp, the Executive Director of the National Credit Union Foundation, shared, "Our core belief is that financial well-being is a fundamental right for all. Our impact reflects the collaborative efforts of credit unions, partners, and supporters dedicated to creating lasting change."
Throughout the year, the Foundation has amplified its mission, striving tirelessly to unite individuals who share the aspiration of enhancing financial well-being for everyone, while acknowledging the vital contribution of donors and partners in fulfilling this objective.
Moving Forward with Financial Well-Being Strategies
To explore the complete report, readers can visit the Foundation's website to understand how to implement or enhance a strategy centered on financial well-being. In doing so, credit unions can better support their members in achieving true financial freedom.
About the National Credit Union Foundation
The National Credit Union Foundation stands as the philanthropic arm of the U.S. credit union movement. By fostering educational initiatives and providing crucial resources during challenging times, the Foundation works steadfastly to elevate people's financial circumstances through credit unions.
This commitment has proven effective, helping members achieve transformative financial goals and granting access to resources that empower communities. Together, the partnership with donors and other stakeholders enables credit unions to offer significant support during crucial times.
Frequently Asked Questions
What is the National Credit Union Foundation?
The National Credit Union Foundation is the charitable arm of the U.S. credit union movement, focused on improving financial well-being for individuals.
What are the key accomplishments highlighted in the report?
The report lists educational outreach, the creation of the FinHealth Hub, significant grant funding, and disaster relief efforts as major achievements.
How does the Foundation support credit unions?
The Foundation supports credit unions through educational programs, grants, and resources aimed at improving financial health and community impact.
Who can benefit from the Foundation's resources?
Credit unions, their members, and communities at large can benefit from the Foundation's initiatives and resources.
How can one access the full 2024 Impact Report?
The full report is available on the Foundation's website, providing insights on their initiatives and strategies for financial well-being.
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