Iowa Credit Union Foundation opens emergency relief fund
DES MOINES – The Iowa Credit Union Foundation has started 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 director 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.
GreenState Credit Union is among the contributors, donating $250,000 to the cause.
“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.”
Murray Williams, president and CEO of the Iowa Credit Union League, added, “I am proud of our Iowa credit union industry as it once again rallies together to help those who need it most. 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.”