Iowa Credit Union Foundation Announces $50,000 in Grants to Increase Financial Inclusion in Iowa

POSTED on August 21, 2024 IN ICUL

First Cycle of Funding through new Financial Inclusion Grant Program

DES MOINES – As part of a new three-year, $150,000 “Financial Inclusion Grant Program” addressing barriers to financial well-being for minority populations in Iowa, the Iowa Credit Union Foundation (ICUF) has announced the organizations receiving the first $50,000 in grant funding. The new program was launched in response to the findings of the recent ICUF statewide report “Economic Realities of Communities of Color,” which identified challenges faced by Iowa’s most vulnerable communities.

Financial Inclusion Grants direct funding to organizations serving minority populations in policy areas covered by the report: affordable housing, business ownership, childcare, education, employment, and health access and outcomes.

After announcing the program last Fall, ICUF collaborated with credit union partners across Iowa to identify qualifying organizations working in their communities. Credit unions were able to nominate mission-aligned nonprofits this Spring, who were then invited to apply for grants ranging from $5,000-$10,000. Eight nonprofit organizations were selected from the proposals received, for a total of $50,000 in first cycle of Financial Inclusion Grant funding. These organizations serve minority communities in a variety of geographic regions in Iowa, representing both urban and rural parts of the state.

“The Iowa Credit Union Foundation is excited to announce the first grant recipients in the Financial Inclusion Grant Program,” said Ena Babic Barnes, Executive Director, ICUF. “These selected organizations represent the critical work required to tackle barriers to financial well-being for all Iowans. We take pride in supporting their impactful work and believe that highlighting their contributions will significantly advance economic equity and foster greater financial inclusion across our State.”

The recipients of the first round of ICUF Financial Inclusion Grant funding include:

• $10,000 to the Multicultural Development Center of Iowa in Iowa City, addressing Business Ownership
• $10,000 to Athletics for Education and Success in Fort Dodge, addressing Childcare and Education
• $5,000 to 24/7 BLAC in Waterloo, addressing Affordable Housing and Business Ownership
• $5,000 to The Academy for Scholastic and Personal Success in Cedar Rapids, addressing Education and Health Access &Outcomes
• $5,000 to the Four Mounds Foundation in Dubuque, addressing Affordable Housing, Education, and Employment
• $5,000 to One Economy Financial Development Corporation in Des Moines addressing Business Ownership
• $5,000 to Knock & Drop Iowa in Des Moines, addressing Health Access &Outcomes
• $5,000 to Boys & Girls Club of Siouxland in Sioux City, addressing Childcare & Education

Founded in 1995 as the philanthropic arm of the Iowa Credit Union League (ICUL), ICUF’s mission is guided by the credit union philosophy of ‘people helping people’. Guided by this philosophy ICUF works to champions financial wellbeing for all. For more information, visit www.IowaCreditUnionFoundation.org.