Training Grants Stretch Tight Budgets

shutterstock_132353657The Credit Union Foundation MD|DC has been offering training grants since 2004, investing more than $100,000 to help local credit unions keep their staff and volunteers up-to-speed on topics as varied as compliance, marketing, lending, member service, financial literacy and more.

Over 500 staff and volunteers from Maryland and District of Columbia credit unions have benefitted from Foundation tuition support.

Training grants are available for staff and volunteers at credit unions up to $150 million in assets.  The Foundation provides tuition reimbursement for qualified courses up to 75% of the cost of training, to a maximum of $750 per year.

Applicants may select the training provider that best meets their needs.  Training may be in person or web-based.

While these grants do not cover the costs of travel or lodging, applicants may apply for reimbursement for the training portion of out-of-town sessions.

In 2012 the Foundation extended their asset limits for training grants from $25 million or less to $150 million or less and instituted a sliding scale for reimbursements based on asset size.

When the Foundation revamped its website, a new training grant page was created to make it easier for users to create and submit applications for reimbursement.  Users can now complete their request directly on a web-based form and submit directly from the site, avoiding the need to download application files.

On average, applicants are informed within two business days of the status of their grant request and upon completion of the training and submission of payment and attendance verification, reimbursements are issued in a timely manner.

Funding for the program comes from charitable gifts to the Foundation, proceeds from the iGive program, and from the newly created “Wine Me Up!” event.

Read the 2015 Summer TurnKey for details on the Foundation’s Training Grant Program.