Charitable Giving Program
New England Federal Credit Union is a non-profit financial cooperative dedicated to improving the financial well-being of our members. As a good corporate citizen, we also support charitable, non-profit and educational organizations dedicated to improving the overall well-being of the communities in which we do business.
Introduction | How We Give | Applying for Support | Submission Deadlines
Community Initiatives
Over the years, NEFCU has supported many worthy organizations and causes, including the Children's Miracle Network, The United Way, the Community College of Vermont, the March of Dimes, YMCA, Vermont Children's Trust Foundation, Multiple Sclerosis Society and the Visiting Nurses Association. Support is provided either by direct financial contributions from the Credit Union, or indirectly through NEFCU-initiated fund raising events such as bake sales, book sales and other events, such as our annual “Blankets of Hope” donation drive.
Our support takes several forms: Employees of the Credit Union are encouraged to participate in fund raising events we organize on behalf of charitable causes, our professional staff regularly conduct free educational seminars to help people become better consumers of financial products, and NEFCU itself provides financial support to charitable and non-profit organizations whose interests and goals are consistent with those of our own.
In addition to our structured giving program, we also receive hundreds of sponsorship requests each year from a wide range of organizations. These requests come from Credit Union members and employees; community-based organizations and individuals; and other groups.
Given the number of requests that we receive, it is impossible for NEFCU to contribute to every cause. Although we respect and admire all worthy projects, we must necessarily limit the scope of our interest and support to levels that are responsible, sustainable and consistent with our mission to improve the financial well-being of our members.
We respond to all unsolicited requests for assistance in accordance with our Charitable Giving and Sponsorship Policy, the procedures of which are described below.
How We Give
NEFCU's Primary Supported Organizations
The Children's Miracle Network NEFCU has for years been pleased to support the Children's Miracle Network. This organization assists ill children and their families to cope with the challenges of pediatric disease and injury. A significant proportion of our membership work daily through their employment at Fletcher Allen Health Care and other facilities to help these families. They continually witness first-hand the positive results that the Children's Miracle Network provides. By being both a valuable community resource, and an organization whose aims are near and dear to a significant percentage of our membership, NEFCU is proud to lend ongoing support to the Children's Miracle Network through direct financial sponsorship and fundraising events.
The United Way The United Way annually directs financial and human resources to nearly 60 programs that help children, families, individuals and seniors dealing with a wide range of needs. Its staff and community volunteers work to encourage positive changes to social services and human-care systems, and to build strong partnerships throughout the region. This organization enjoys particularly strong support among our employees, and as such we match 50% of staff donations. Additionally, we provide support to the United Way organization itself by funding a United Way “Loaned Executive”, and we will continue to do so.
Financial Education At NEFCU, we work in our members' best interest by offering seminars that help educate our members to make better financial decisions. We also provide free financial educational programs to the community, regardless of membership status. For example, at the Community College of Vermont, we bring financial education to students to help them make better financial decisions through sponsored seminars. At the high school level, we offer the Right Track program, a dedicated financial education program for teens.
Nursing Scholarships In recognition of the importance of the nursing profession to our members and our community, NEFCU is proud to support and to assist individuals who wish to pursue a nursing career through financial scholarships for appropriate training at accredited institutions.
Science, Technology, Engineering and Math (STEM) Scholarships Inspired by the National Science Foundation, NEFCU is helping to increase the number of individuals who choose careers in the hard sciences, by providing annual scholarships to applicants who best demonstrate their commitment to science, technology, engineering or mathematics.
Direct Foundation An NEFCU-supported foundation offering financial education to under-served Vermonters.
Applying for Support
NEFCU's Charitable Giving and Sponsorship Policy describes the criteria by which all NEFCU-initiated, and unsolicited requests for support, are assessed. The Policy helps NEFCU to manage the responsibility of allocating a limited fund of financial support to the community in a manner that is fair and responsible to all concerned. Our giving program is budgeted annually and is subject to the availability of funds.
Proposals for support and contributions must meet the following criteria:
- Organizations that are defined as nonprofit under 501(c)(3) of the Internal Revenue Service Code.
- Organizations or events whose primary focus is on Vermont communities in Chittenden, Grand Isle, Franklin, Lamoille, Washington or Addison Counties.
- Projects or programs that can be characterized as:
- Financial education, focusing on projects, programs and events designed to improve the financial well-being of individuals and communities, and - Community based programs, focusing on projects and events that improve the quality of life, or benefit the social and cultural health of a community. NEFCU will not provide funding for:
- Religious organizations
- Organizations or projects that discriminate against individuals based on race, religion, ethnicity, or sexual preference
- Organizations or projects that are considered to be in direct competition with NEFCU
- Political organizations or candidates
- Individuals
Award Process and Level of Support To ensure complete fairness and objectivity in our giving policies, qualified applications for charitable giving that meet the criteria outlined above will be entered into a blind drawing four times per year. Each quarter, NEFCU will grant a maximum of four awards, depending on the number of qualified applications received, in amounts not to exceed $625 per request. Requests for support may come from members, individual Credit Union management and staff, and the general public as specified above. All applicants MUST apply for support as described in the procedures below.
All grant requests that are not awarded in the quarter in which they are received will be destroyed, and will not be advanced into the next quarter or given further consideration. Applications will only be accepted for consideration once per year.
Application Procedures The following procedures apply to all requests for financial or in-kind support. All requests must be submitted in writing and include the following:
- A brief description of the requesting organization's purpose, the project's objectives and any relevant deadlines or event dates
- A detailed description of the type and amount of support being requested
- A description of the population(s) served by the organization, specifically those who will be served by the program or project for which funding is requested
- A copy of the Internal Revenue Service 501(c)3 determination letter designating the requesting organization as a nonprofit, tax-exempt public charity
Submission Deadlines
The submission deadline for all applications is quarterly, as follows:
- December 31, 2009
- March 31, 2010
- June 30, 2010
- September 30, 2010
Successful applicants will be notified within four to six weeks of the deadline by which the applications were received. All materials submitted in the application process become the property of NEFCU and will not be returned.
Complete requests complying with all of the above requirements should be mailed to: Marketing Department New England Federal Credit Union P.O. Box 527 Williston, VT 05495-0527
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