Indiana Credit Union Foundation supports disaster relief efforts, educates credit union staff and officials
Numerous organizations contribute to the Foundation
January 7, 2005

Members of the Indiana Credit Union Foundation’s Founders Society are prominently displayed on this wall in the lobby of Credit Union Center, in Indianapolis. Founders Society recognition was given to contributors who got involved in the start-up of the Foundation. The Credit Union Center office is home to the Indiana Credit Union League, Servicecorp and the Indiana Credit Union Foundation.

INDIANAPOLIS –The Indiana Credit Union Foundation (ICUF) Board recently approved making a contribution to assist credit unions impacted by the tsunami tragedy. Additionally, the ICUF has established the Tsunami Relief Fund in order to coordinate contributions from Indiana credit unions’ and business partners’ efforts in response to this disaster. All contributions will be forwarded by the ICUF to the Worldwide Foundation for Credit Unions.

Additionally, in the third quarter of 2004, in response to the hurricanes that hit hard in Florida, the ICUF and Servicecorp, a subsidiary of the Indiana League, contributed $15,000 to the Florida Credit Union Foundation for disaster relief efforts.

The Foundation would not be able to make contributions such as these without the generous support it receives from credit unions, individuals and organizations. Servicecorp, the Indiana Credit Union League’s services corporation, recently contributed $25,000 to the Foundation for general use. “The $25,000 contribution to the ICUF from Servicecorp reflects the importance the League and Servicecorp place on the Foundation’s activities,” said League President John McKenzie. “This contribution was possible because of the widespread usage of Servicecorp products and services by Indiana’s credit unions.”

Mid-States Corporate FCU has made generous contributions to the ICUF in the form of Community Investment Fund (CIF) deposits, a portion of whose dividends go to the ICUF. Mid-States, Servicecorp and the CUNA Mutual Group are all key sponsors of the Foundation’s annual golf outing and members of its Founders Society at the highest level.

There are 80 individuals, credit unions and vendors who have made donations to the Foundation since its inception in 2000. The ICUF has grown to $118,000 in cash deposits and $5.8 million in CIF deposits since then.

In addition to disaster relief, the Foundation makes grants to Hoosier credit union staff and officials for the purpose of continuing professional development. Most attend national or state-level conferences and certification programs. For 2005, a up to $18,000 will be granted in the form of general scholarships and two honorary scholarships named for individuals whose contributions have been instrumental to credit union progress in Indiana.

Grants are made under the direction of the Foundation’s board of directors. These seven volunteer directors represent a variety of credit union communities. Three are directors of the Indiana Credit Union League; four represent other league-affiliated credit unions. They are:

• Chairman Ron Budzinski (La-Porter FCU, Michigan City)
• Vice Chairman Larry Zehrung (General CU, Fort Wayne)
• Secretary Barbara Berghoff (Professional FCU, Fort Wayne)
• *Treasurer Lamoura Munse (Capital Plus CU, Indianapolis)
• *Angela Dufour (Central FCU, Indianapolis.)
• *Sandy Heller (Northern Indiana FCU, Merrillville)
• Donna Tichenor (Evansville FCU, Evansville)

*denotes League directors

About the Indiana Credit Union Foundation (ICUF): Established in 2000, the ICUF began accepting contributions in 2001 with first scholarships awarded in 2002. The Foundation is a charitable arm of the Indiana Credit Union League, using contributions from individuals, credit unions and other organizations to fund projects that benefit Hoosier credit unions. These include scholarships and grants, credit union development and other programs as approved by its board of directors including financial literacy, community education programs and disaster relief. As a non-profit, 501(c)(3) charitable organization, all individual donations to the Indiana Credit Union Foundation may be tax-deductible.

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