Friends of the Foundation Membership
Who We Are
Friends of the Foundation is the Southeastern Credit Union Foundation’s membership program that enables individuals and organizations to partner with us, gaining access to financial wellness benefits, volunteer opportunities, and credit union products and services. Becoming a member not only grants active participation in the Foundation’s priorities but also acts as a catalyst for supporting disaster resilience, credit union development, and community impact programs.
What We Do
We are committed to our mission of serving credit unions, communities, and their members wherever they may be. By becoming a Friend of the Foundation, you have the unique opportunity to showcase the collective strength of credit unions as a positive force for change. Your involvement directly contributes to the sustainability of credit unions, ensuring their resilience and continued impact in the years ahead.
Friends of the Foundation For Individuals
Benefits
By joining Friends of the Foundation, individuals can:
- • Access to membership opportunities with participating credit unions.
- • Benefit from low-cost financial products and services.
- • Receive an e-newsletter on financial wellness and volunteer opportunities.
- • Experience the ultimate financial wellness learning platform with Enrich.
- • Vote on financial education and community development issues that are important to the credit union industry.
- • Champion the “People Helping People” philosophy in your community via support of disaster relief, grants, and other impactful initiatives.
FAQs
What is the cost to become a Friend of the Foundation?
The annual membership fee is $15. Friends will have the opportunity to renew on their anniversary date.
Are businesses eligible to become a Friend of the Foundation?
Yes, businesses are eligible. However, this does not mean that employees of said business are Friends of the Foundation as well. They may become Friends, but they would have to pay the annual membership fee separately.
When is the Friends of the Foundation Annual Meeting?
The annual Friends of the Foundation membership meeting is scheduled to take place on October 18, 2024. All members will receive an email with an invitation and login details two weeks before the meeting.
If a Friend chooses not to renew their annual membership, will they still be a member of the respective credit union?
Yes, the Friend is considered a life-long member of the credit union after the initial membership fee has been paid, however, they will no longer receive Friends of the Foundation membership benefits.
What benefits do Friends of the Foundation receive?
- • Champion the people helping people philosophy through monetary and system support.
- • Receive an electronic newsletter from the Foundation on financial wellness and volunteer support.
- • Become eligible for membership opportunities with participating credit unions to access financial products and services.
- • Experience the ultimate financial wellness learning platform with Enrich (will add link to this word eventually). Enrich provides access to personalized, takeaway-loaded content, knowledge-building exercises, and engaging how-to tutorials. Explore explainer videos, join community discussions, and indulge in clever games with progress tracking for an entertaining and enriching learning experience.
- • Opportunity to vote on financial education and community development issues that are important to the credit union industry.
For more information on the Friends of the Foundation program, please contact our Foundation staff at secuf@lscu.coop.
Volunteer Opportunities in Your Community
Celebrate International Credit Union Day (ICU) Day® with Community Projects
International Credit Union (ICU) Day® unites credit unions worldwide to celebrate their cooperative heritage and achievements while promoting the global credit union movement. This year, honor ICU Day by implementing community projects that make a difference. Join forces with other credit unions in your area to participate in local beautification efforts, sponsor charity runs, host bicycle safety clinics, and support social service agencies. Engaging in these collaborative activities not only strengthens community bonds but also highlights the positive impact of credit unions working together. Celebrate ICU Day by giving back and demonstrating the cooperative spirit of credit unions! For more information visit: www.woccu.org/member_services/engagement/icuday
Join Friends of the Foundation!
You have the opportunity to demonstrate the combined strength of credit unions as a force for good and help us ensure the sustainability of credit unions by becoming a Friend of the Foundation.
Join Friends of the Foundation
Friends of the Foundation Newsletter
International Credit Union Day
Credit Unions around the globe celebrated International Credit Union Day (ICU Day) on October 17, 2024, an annual event to commemorate the credit union movement’s impact and achievements.
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Tis the Season...To Think About Curbing Holiday Spending
Keeping track of expenses and sticking with a well-thought-out budget during the year are tasks that can act as the building blocks for sound financial planning.
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How the Fed's Recent Rate Cut Affects Your Wallet
On September 18, 2024, the Federal Reserve (“Fed”) announced that the federal funds rate would decrease by 50 basis points to a range of 4.75%-5%.
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Friends of the Foundation For Credit Unions
Benefits
By adding the Southeastern Credit Union Foundation as an Affiliate Association to your credit union’s field of membership, all Friends of the Foundation members will be eligible to join your credit union.
- • Retain membership dollars in the industry for grants and support in the SECUF region,
- • Boost awareness and membership,
- • Maximize resources through the “People Helping People” philosophy, and
- • Strengthen your community relationships.
FAQs
Is my credit union eligible to participate in the Friends of the Foundation Program?
- • Multiple-common-bond, federally chartered credit unions can submit a request to NCUA to add the foundation as an affiliate association to their charter.
- • Subject to each State’s FOM rules, state charters may also submit a request to add the foundation to their FOM.
- • Federal community charters are not able to add the foundation as an associational group to their charter.
Do I have to participate in Shared Branching or an ATM Network to be eligible for the Friends of the Foundation program?
While participation in a shared branching network or a shared ATM network is not required in order to add Friends of the Foundation to your field of membership, CUs will be required to demonstrate to their respective regulator or supervisory authority the CU’s ability to serve the members of Foundation including any other regulatory or statutory requirements relative to reasonable proximity to a service facility that may be applicable to adding groups to a credit union’s field of membership. Many CUs meet this requirement through participation in shared branching and shared ATM networks.
What is the process of adding the Southeastern Credit Union Foundation as an Affiliate Association?
- • The Southeastern Credit Union Foundation will prepare a sponsor letter requesting that your credit union add the Foundation as an Affiliate Association to your approved field of membership.
- • The Foundation will provide said letter and Foundation bylaws to the credit union.
- • The credit union will submit the letter and bylaws to the NCUA or State Regulator for approval. The credit union will also need to submit the request pursuant to the procedures required by their regulator (e.g., 4015-EZ, 4015-A, or 4015 form).
What is the process after the Foundation is approved as an Affiliate Association of your credit union?
There are a couple of different options for submitting Friends’ names, contact information, and membership dues to the Foundation. Foundation staff will work with each credit union to determine the best option to ensure compliance and facilitation of necessary information.
What are the benefits of my credit union adding the Southeastern Credit Union Foundation as an Affiliate Association?
- • Expands the credit union’s footprint.
- • Most credit unions are already partnering with local organizations for this purpose - the Foundation keeps those membership dollars in the credit union space and translates to grant dollars, etc. for the CUs in the SECUF region – truly a WIN, WIN
- • Increases overall credit union awareness and membership.
- • Maximizes resources - People Helping People
- • Great benefits for the community
For more information on the Friends of the Foundation program, please contact our Foundation staff at secuf@lscu.coop.