News Release: Indiana Credit Union Foundation reallocates
scholarship funds to expand benefits
May 27, 2020​

INDIANAPOLIS – The Indiana Credit Union Foundation (the Foundation) has reallocated funds from its planned scholarship programs for 2020 to benefit credit unions
in a different way than it initially planned. Rather than granting individual scholarships, the Foundation will use its $26,000 scholarship fund so that Indiana credit union
representatives can participate in professional development closer to—and even from—home.

“In light of travel restrictions, as well as the rescheduling, cancellation and postponement of many of the sessions that scholarship applicants were interested in, the
Foundation Board reallocated the scholarship funds budgeted for 2020 to support the efforts of the Indiana Credit Union League,” said Foundation Chairman Andy
Burggraf, who is also President/CEO of CommunityWide FCU in South Bend. “The League has pivoted its own education offerings to include more webinars, including
several on pandemic-related topics. We are happy that the Foundation’s scholarship funds can still be used to help make this professional development available at
no-cost to participants, who can consume it live at home, at the credit union or in archive form.”  

The Indiana League has already held some sessions with assistance from the Foundation, and there are others scheduled over the next two months which will be
offered at no cost to participants from affiliated Indiana credit unions. Registration numbers for these sessions are high, allowing the Foundation’s funds to benefit
hundreds of credit union employees and officials. Additional sessions are planned throughout the remainder of the year. Titles of some of the May and June
offerings are:

  • Collections: Now and After the Pandemic is Over
  • Producing Loans Now and the Rest of the Year
  • Fighting Fraud through the Pandemic
  • Financial Strategies in Response to the Pandemic
  • Technology Roundtable
  • BSA for Managers and Compliance Officers
  • CFO/Accounting Network
  • Marketing Roundtable: Social Media Planning & Application
  • Crash Course in Compliance

Prior to the pandemic, the Foundation made an award for GAC attendance, but no other scholarship funds have been disbursed for 2020. The Foundation’s current
plans are to return to the usual scholarship award process in 2021.