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News Release: Indiana Credit Union Foundation reallocates scholarship funds to expand benefits

by League Communications | May 27, 2020

INDIANAPOLIS – The Indiana Credit Union Foundation (the Foundation) has reallocated funds from its planned scholarship programs for 2020 to benefit credit unions in a different way than it initially planned. Rather than granting individual scholarships, the Foundation will use its $26,000 scholarship fund so that Indiana credit union representatives can participate in professional development closer to—and even from—home.

“In light of travel restrictions, as well as the rescheduling, cancellation and postponement of many of the sessions that scholarship applicants were interested in, the Foundation Board reallocated the scholarship funds budgeted for 2020 to support the efforts of the Indiana Credit Union League,” said Foundation Chairman Andy Burggraf, who is also President/CEO of CommunityWide FCU in South Bend. “The League has pivoted its own education offerings to include more webinars, including several on pandemic-related topics. We are happy that the Foundation’s scholarship funds can still be used to help make this professional development available at no-cost to participants, who can consume it live at home, at the credit union or in archive form.”

The Indiana League has already held some sessions with assistance from the Foundation, and there are others scheduled over the next two months which will be offered at no cost to participants from affiliated Indiana credit unions. Registration numbers for these sessions are high, allowing the Foundation’s funds to benefit hundreds of credit union employees and officials. Additional sessions are planned throughout the remainder of the year. Titles of some of the May and June offerings are:

Collections: Now and After the Pandemic is Over
Producing Loans Now and the Rest of the Year
Fighting Fraud through the Pandemic
Financial Strategies in Response to the Pandemic
Technology Roundtable
BSA for Managers and Compliance Officers
CFO/Accounting Network
Marketing Roundtable: Social Media Planning & Application
Crash Course in Compliance

Prior to the pandemic, the Foundation made an award for GAC attendance, but no other scholarship funds have been disbursed for 2020. The Foundation’s current plans are to return to the usual scholarship award process in 2021.