Virginia's Credit Unions to Launch New Charitable Foundation
Thursday, April 23, 2009
LYNCHBURG, Va.--On May 8, Virginia’s credit unions will celebrate the launch of the Credit Unions Care Foundation of Virginia, a non-profit organization dedicated to charitable, educational and community causes.
The Foundation will focus its work in five areas:
- Community micro-grants designed to aid worthwhile projects or organizations that contribute to the empowerment of individuals and the betterment of our communities.
- Financial education.
- Education scholarships.
- Disaster relief fund raising.
- Charitable giving.
“Credit unions have always recognized the need to give back to our communities,” says Gerrianne Burks, CEO of Herndon-based Northwest Federal Credit Union and the recently elected chairman of the Credit Unions Care Foundation of Virginia. “Virginia’s credit unions can point proudly to the more than $1 million we raise collectively each year for charity and to the tens of thousands of students we reach through our financial education efforts. Our hope is that the Foundation will enable us to better channel the collective energy and fund-raising might of Virginia’s credit unions in service to our communities.”
The Foundation is led by a volunteer Board of Directors, comprised of credit union leaders from around the Commonwealth. In addition to Burks, members of the Board are: Roger Ball, CEO of Richmond-based Call Federal Credit Union, who serves as the Foundation’s vice-chairman; Audrey Bollinger, CEO of Petersburg-based Peoples Advantage Federal Credit Union, who serves as Treasurer;
Jean Yokum, CEO of Newport News-based Langley Federal Credit Union, who serves as secretary; Bob Petty, CEO of Franklin-based Bronco Federal Credit Union, director; Jim Hansen, CEO of Lynchburg-based VACORP Federal Credit Union, director; and Rick Pillow, president of the Virginia Credit Union League, also a director.
The Foundation has already launched fund-raising initiatives and will accept corporate, private, credit union and individual contributions. It has filed for 501(c)(3) status with the IRS, which will allow individuals and other donors to take a tax deduction for their contributions. Consult your tax professional for details on eligible deductions.
The May 8 launch of the Foundation will take place during the Virginia Credit Union League’s 75th Annual Meeting in Reston, Virginia, at the Hyatt Regency Reston hotel. The League’s Annual Meeting business session is scheduled to begin at 9 a.m.
