The ICU Foundation is a leader in credit union philanthropy and has served as a partner for credit unions through collaborative opportunities to enrich our communities.
The ICU Foundation worked with the National Credit Union Foundation to create a credit union philanthropy and foundation toolkit for credit union executives, boards and staff. It contains information and resources credit union professionals and volunteers will find useful when considering charitable and outreach activities, operating or starting a foundation, and more.
ToolkitAn ideal alternative to starting a nonprofit foundation is establishing a Donor Advised Fund with the ICU Foundation. A Donor Advised Fund provides the benefits of creating a foundation while avoiding many challenges such as initial set-up fees, administrative costs, and ongoing compliance issues, including reporting and excise taxes.
Credit unions can establish Charitable Donation Accounts (CDAs) to expand credit union charitable giving efforts. These accounts, which may include otherwise impermissible investments, give a credit union the opportunity to achieve a higher yield provided that at least 51 percent of the return from the account is donated to a recognized charity. Credit unions can make donations to the ICU Foundation from CDAs. Talk with TruStage, a Foundation partner, to open an account.
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