DES MOINES, IOWA (March 25, 2020) — The Iowa Credit Union Foundation (ICUF) has launched a new Emergency Relief Fund to assist Iowans in need during the COVID-19 pandemic, which has caused a major disruption to the state’s economy, the income of many Iowans, and the health of small businesses across the state.
“Founded during the devastating floods of 1993, the Foundation is here to help again in this time of economic uncertainty,” said Jaimie Miller, Executive Direction of ICUF. “This new emergency fund, created from several generous donations from the credit union industry, is a true reflection of the ‘people helping people’ philosophy of credit unions and will enable us to do more to help vulnerable Iowans and communities across the state.”
Ten credit unions, Affiliates Management Company (holding company for the Iowa Credit Union League) and individual donors, have generously pledged $500,000 in lead gifts toward the establishment of the fund. These donations will provide support to individuals, small businesses, and state-wide relief efforts. The lead donors are:
- GreenState Credit Union — $250,000
- Affiliates Management Company/Iowa Credit Union League — $100,000
- Veridian Credit Union — $50,000
- Dupaco Community Credit Union — $25,000
- Community 1st Community Credit Union — $15,000
- DuTrac Community Credit Union — $15,000
- Ascentra Credit Union - $10,000
- Collins Community Credit Union — $10,000
- Linn Area Credit Union — $10,000
- IH Mississippi Valley — $5,000
- Murray and Amy Williams — $5,000
- Affinity Credit Union — $2,500
- Personal/Other Contributions — $2,500
“During this unprecedented time, Iowans are navigating unchartered waters and need help,” said Jeff Disterhoft, President and CEO of GreenState Credit Union. “GreenState Credit Union is proud to provide lead funding for the Foundation’s new Emergency Relief Fund. We, as well as all credit unions statewide, are committed to helping Iowans and local communities weather this storm.”
Applications and instructions on how to apply will be available April 1 at www.iowacreditunionfoundation.org/emergency-relief-fund.
“I am proud of our Iowa credit union industry as it once again rallies together to help those who need it most,” said Murray Williams, President and CEO of the Iowa Credit Union League. “In addition to the generous donations that have been made to the new Emergency Relief Fund, Iowa credit unions are waiving fees, deferring payments, and creating low-cost products to get members and small businesses access to the capital they need now.”
If interested in donating to the Emergency Relief Fund, visit www.iowacreditunionfoundation.org. All gifts made through this donation portal will be used for Emergency Relief efforts in response to COVID-19. Should any dollars remain in this fund following the COVID-19 response efforts, they will be used for future disaster relief efforts for Iowans in need. Gifts of all sizes are welcome.
Founded in 1995 as the philanthropic arm of the Iowa Credit Union League, the Iowa Credit Union Foundation's (ICUF) primary focus is to eliminate poverty in the state of Iowa. ICUF seeks to carry out its mission to empower people and communities to achieve financial well-being through its various programs, grants, and scholarships. For more information, visit www.IowaCreditUnionFoundation.org.
