Q: What is cuaid.coop?
Q: What is the National Credit Union Foundation Disaster Relief Fund?
Q: How will my contribution to the NCUF Disaster Relief Fund be used?
Q: How does NCUF keep track of funds that are spent?
Q: Is my contribution to the NCUF Disaster Relief Fund tax deductible?
Q: How do I make a contribution to the NCUF Disaster Relief Fund?
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cuaid.coop is the first national online giving center for credit unions. All cuaid.coop contributions are directed to the National Credit Union Foundation Disaster Relief Fund. Credit union organizations are encouraged to link to cuaid.coop to offer employees and members a donation option to help fellow credit union employees and members in the disaster area. Once credit unions publicize this to their employees and members, when the next disaster strikes:
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More credit union employees and members will be aware that they can contribute to help fellow employees and members.
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More disaster relief contributions will remain in the credit union system.
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Most important, cash is channeled to the disaster area more quickly.
Download a cuaid.coop brochure.
Read "Credit Unions Become a Beacon of Light After Disaster Strikes" - a 2011 Article on CUAid.
Click here to see a pdf visual outline of how cuaid.coop works when a disaster occurs:
For a comprehensive CU Aid overview, view the Introductory CU Aid PowerPoint Presentation from when the site launched.
Q: What is the National Credit Union Foundation Disaster Relief Fund?
In times of disaster, the National Credit Union Foundation (NCUF) raises and distributes funds to aid the affected region of the credit union movement including credit unions, leagues and other credit union organizations.
Q: How will my contribution to the NCUF Disaster Relief Fund be used?
The devastation caused by natural and man-made disasters often creates immediate, emergency needs as well as long-term, ongoing needs. In response, NCUF’s disaster relief funds can be used for a broad range of disaster-related needs as identified by the league officials and credit union organizations or associations in the affected areas and approved by NCUF. These needs include, but are not limited to the following items:
- Critical Needs - Credit union employees, members and volunteers can receive assistance for items for daily living such as, but not limited to food, water, ice, batteries, clothing, diapers, temporary shelter, housing, gas and transportation.
- Longer-term Recovery Needs - After surviving the initial emergency, credit union employees, members and volunteers may still face long-term needs related to the disaster. Even after they recover what they can from insurance payouts, victims may need assistance rebuilding or relocating to a new home, replacing lost vehicles and household items. As long as funds remain in the NCUF Disaster Relief Fund, NCUF in concert with its agent(s) managing the recovery efforts may expand the grant criteria to include these and other longer-term recovery needs that are not fully covered by insurance.
- Reasonable Operational Needs - While NCUF’s first priority in disaster relief grant-making is to assist credit union employees, members and volunteers assistance may also be provided directly to credit unions and their support organizations in order to help them become and remain operational. Operational expenses related to disaster recovery may include items such as relocating, setting up temporary service facilities, joining shared service networks, hiring temporary staff, mentoring and counseling traumatized staff, repairing building damage, replacing destroyed computer software/hardware, office furniture, office supplies, and other needs that are not fully covered by insurance. All purchases must be reasonable and of the same standards as being replaced.
Subject to the criteria listed above, funds pledged to and received by the National Credit Union Foundation (NCUF) will be allocated in one of the following manners depending upon the location, size and complexity of the disaster:
- Directly to the Leagues, their affiliated Foundations, Corporate Credit Unions, or other credit union organizations or associations serving the affected area (or their approved surrogates), to manage this assistance. Assigned grantee staff will be responsible for distributing and reporting upon the use of such funds as described above using reporting procedures provided by NCUF. Such a process is guided by oversight from NCUF staff, the Foundation’s Grants Committee, and, as needed, with involvement by the Executive Committee and full Board.
- Directly by NCUF staff to affected credit unions, their employees or other credit union system organizations and individuals impacted by the disaster. This process will be guided by the Foundation’s Grants Committee and, as needed, with involvement by the Executive Committee and full Board.
Q: How does NCUF keep track of funds that are spent?
Individual grantees (credit union employees and members), while submitting their applications, must sign a statement to certify the dollar value of un-recovered losses to their homes, structures, and personal belongings, and any other hardships to themselves and/or their families as a result of the disaster. Applications will be reviewed by an official of the credit union and/or league before being forwarded to NCUF.
Institutional grantees (credit unions, state foundations, leagues, and other trade associations) are required to report to NCUF to detail how their grant funds were spent. Where funds are re-granted to individuals, the report must list those individuals’ names and credit union affiliations. Where funds are used for institutional relief, the report must document that the uses are consistent with charitable purposes and the donors’ intent as stated by NCUF in the disaster fundraising effort.
NCUF reserves the right, at its option, to audit the books and records of institutional grantees relating to disaster relief grants and use of the funds described in their grant agreements.
Q: Is my contribution to the NCUF Disaster Relief Fund tax deductible?
Yes. Contributions to NCUF, a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, are deductible as charitable contributions for computing income and estate taxes. NCUF encourages all donors to check with a tax professional.
Q: How do I make a contribution to the NCUF Disaster Relief Fund?
If you wish to make a donation using a credit card, please click here or the donate now link at the top.
To make a donation by mail or wire transfer, please follow the instructions on the National Disaster Relief Form.
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If you have any further questions, please contact Christopher Morris at cmorris@ncuf.coop or by calling 800.356.9655 x 4374.
