LSC and the ICU Foundation donate to CUAid to support disaster relief for credit unions
NAPERVILLE, IL (October 5, 2020) — LSC and the Illinois Credit Union (ICU) Foundation have each donated $5,000 to CUAid, the National Credit Union Foundation’s (NCUF) disaster relief fund. Through this fund, NCUF can quickly respond when disaster strikes by harnessing the collective generosity of credit unions, individuals and other stakeholders through CUAid, raising donations that support credit unions, their employees and volunteers who are impacted by a disaster.
The ICU Foundation board approved the decision in September. They combined efforts with LSC, a CUSO-credit union service organization, within the Illinois Credit Union system, whose leadership agreed to match the ICU Foundation’s donation up to the amount donated.
“The ICU Foundation is proud to provide a $5,000 donation to CU Aid which is being matched by an equal contribution from LSC, doubling the impact,” said John Fiore, ICU Foundation Chair. “We are happy to support efforts to assist credit union staff and volunteers as they recover from natural disasters.”
“CUAid is an invaluable resource,” says Tom Kane, President and CEO of the Illinois Credit Union System. “Supporting credit unions during adverse circumstances is most important because it also benefits the communities they serve. Credit unions provide vital financial services essential to members living through these challenging events. I am very pleased that LSC stepped up to contribute to this needed reserve for credit unions.”
Originally, NCUF collected funds for CUAid only in response to the occurrence of natural disasters. NCUF now accepts donations to CUAid throughout the year to maintain a pool of available funds so they can act quickly when disaster strikes. This summer, NCUF also launched the CUAid App to help credit unions prepare for and recover from disasters. This modification enables them to also provide a faster, more localized response.
The Illinois Credit Union League (ICUL) is the primary trade association for more than 230 credit unions doing business in Illinois. It focuses on providing legislative and regulatory advocacy, compliance assistance and information, and a wide range of educational and training services to those credit unions, who in turn serve approximately 3.4 million members. As a not-for-profit corporation chartered under the laws of the State of Illinois, membership in the League is open to any Illinois credit union doing business and operating in accordance with the Illinois Credit Union Act or the Federal Credit Union Act. More information can be found at: https://www.icul.com/.