2022 ANNUAL REPORT
2022 Board of Directors
Becky Landis, Chair
State Highway Patrol FCU
Jeannie Fye, Vice Chair CSE FCU
Tammy Cantrell, Secretary/Treasurer
Corporate One FCU
Miranda McConoughey
Lake County Educational FCU
Foundation Staff
Kimberly Connor, Executive Director
Katie Matney, Director, Development
Paul Mercer, President, Ohio Credit Union League
Melanie Shaner, Sr. Manager, Learning and Development
Jacqueline Moore
Faith Community United CU
Dean Pielemeier
Abbey CU
Joshua Reams Millstream Area CU
Dan Sutton, OCUL Chair
Kemba CU
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Letter from the Executive Director
Dear Foundation Supporters,
In our current climate, the Ohio Credit Union Foundation’s purpose of supporting education and outreach initiatives that promote financial independence through credit unions is more important than ever—the last year brought higher energy and food prices, growing inflation, and more challenging choices for families working and living in Ohio.
Despite this rocky landscape, the Credit Union Movement and this Foundation continue to “Put People First” and have remained dedicated to our vision of empowering people with knowledge to improve our world.
In 2022, the Foundation raised over $310,000, most of which came from direct contributions from Ohio credit unions. Additionally, we awarded over $292,000 in grants and provided $26,600 in scholarships to deserving students. In 2021, the Foundation launched its “New Beginnings” grant program, an excellent example of its commitment to strengthening communities and removing obstacles through credit union partnerships. This program provides much-needed support to individuals re-entering the workforce, helping them on their way to financial empowerment.
The Foundation’s focus on promoting financial independence through credit unions is commendable, and our dedication to providing disaster relief and scholarships to individuals seeking higher education is truly inspiring. It’s incredible to think about how much of an influence the Foundation has made on the lives of so many individuals since our founding in 1997.
As we progress, we remain focused on driving positive change and creating opportunities for credit union members and their communities.
We sincerely thank our donors, partners, and supporters for their unwavering trust and dedication. Your continued involvement and contribution have been instrumental in our accomplishments and positioned us for an even brighter future.
With deep appreciation,
Kimberly Connor Executive Director, Ohio Credit Union Foundation
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2022 Highlights
$292k granted into credit union communities
107 credit unions supported the Foundation through their annual Ohio Credit Union League dues
>$42k granted to support professional development opportunities for credit union staff
$313k raised $16k fundraising growth over 2021
$84k
invested in local communities via New Beginnings Grants
>$117k
invested in financial education grants throughout Ohio
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Annual Scholarships
Whether starting an educational journey or heading into the workforce, The Foundation is dedicated to making educational dreams come true.
Video Scholarships
Each spring, the Foundation offers Ohio undergraduate credit union members the opportunity to apply for one of three scholarships by creating an interactive video. This year’s video topic focused on how credit unions can attract younger members.
2022 Video Scholarship Winners:
First Place: Abigail Sowinski, member of Glass City Federal Credit Union
Second Place: Lily Thomas, member of Firefighter Community Credit Union
Third Place: Christopher Bertsch, member of Sun Federal Credit Union
Student Loan Forgiveness Scholarship
Since 2015, The Ohio Credit Union Foundation has worked to support credit union staff by awarding three $5,000 scholarships to Ohio credit union employees to help pay off their outstanding student loans. In 2022, each applicant addressed how credit unions can attract young professionals to work in the Credit Union Movement.
2022 Student Loan Forgiveness Scholarship Winners:
Taylor Evans, Firefighters Community Credit Union
Siri Petersen, Telhio Credit Union
Loren Issac, TruPartner Credit Union
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Programs
The Foundation has several vehicles by which credit unions, credit union alliances, credit union business partners, and credit union members may support the Foundation’s efforts.
William A. Herring Society
The Foundation created the William A. Herring Society, a planned giving opportunity that recognizes credit union employees and volunteers, past and present, who have shown a steadfast commitment to the Credit Union Movement.
2022 Recipients:
Dennis Adams, American Share Insurance/Excess Share Insurance
William Carr, Sun Federal Credit Union
Becky Landis, State Highway Patrol Federal Credit Union
Heather Parrott, CODE Credit Union
Jay Young, TrueCore Federal Credit Union
Community Investment Fund
The Community Investment Fund (CIF) allows credit unions to leverage their investments at Corporate One Federal Credit Union to support innovative credit union programs. Credit unions that invest in the CIF receive 50 percent of the dividend of their investment. The remaining 50 percent is shared equally between the state and national credit union foundations.
Louise McCarren Herring Birthday Collection
Louise McCarren Herring left a legacy as a pioneer in the Credit Union Movement. She organized over 500 credit unions and founded the Ohio Credit Union League, where she served as the first full-time managing director Louise was a firm believer in equal and fair access to quality financial services and is known as one of the most spirited leaders in the Movement.
The Foundation celebrated Louise’s birthday on Sept. 20, by holding a credit union fundraiser. All funds raised supported the foundation’s mission.
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Foundation Events
Each year the Foundation hosts three events to raise money for its mission. Money raised from these events goes towards grants and scholarships distributed throughout the year.
Golf Classic: August 1, 2022
With 21 sponsors, 142 golfers, and more than $35,000 in funds raised, the 2022 Ohio Credit Union Foundation Golf Classic was a tremendous success. All proceeds from the annual fundraiser go directly to the Foundation’s grantmaking efforts.
We thank all our attendees and event sponsors who made this event’s success possible, and congratulate the first and second-place winners.
1st Place Team
Kurt Neeper, Superior Credit Union
Mike Abernathy, Buckeye State Credit Union
Matt Mecurio, Falls Catholic Credit Union
Kurt Loose, American Share Insurance/Excess Share Insurance
2nd Place Team
Mike Doran, GenFed Credit Union
Tony Lane, CSO
Mat Stuart, Greater Wayne Community Federal Credit Union
Brian Clements, Greater Wayne Community Federal Credit Union
Clay Classic: October 28, 2022
This annual event was hosted at the Black Wing Shooting Center in Delaware. We welcomed 125 shooters and 16 sponsors, and raised more than $21,000. All proceeds from this fundraiser benefited the Foundation.
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Ohio Credit Union Foundation
Statement of Financial Position
OHIO CREDIT UNION FOUNDATION STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2022 AND 2021
AND NET ASSETS
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(Unaudited) 2022 2021
Current assets: Cash and cash equivalents 427,908 $ 523,634 $ Certificates of deposit 1,292,000 1,044,000 Accounts receivable – trade 33,693 344 Accounts receivable – related parties 31,687 28,873 Total current assets 1,785,288 1,596,851 Noncurrent assets: Investment 6,782 6,782 Total noncurrent assets 6,782 6,782 Total assets 1,792,070 $ 1,603,633 $ LIABILITIES
Current liabilities: Grants payable 239,125 $ 135,772 $ Accounts payable and other current liabilities 29,500 3,195 Total current liabilities 268,625 138,967 Net assets: Without donor restrictions: Operating 615,768563,582 Board designated 907,677901,084 Total net assets 1,523,445 1,464,666 Total liabilities and net assets 1,792,070 $ 1,603,633 $
ASSETS
Ohio Credit Union Foundation Statement of Activities
OHIO CREDIT UNION FOUNDATION STATEMENTS OF ACTIVITIES
YEARS ENDED DECEMBER 31, 2022 AND 2021
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(Unaudited) 2022 2021 REVENUES Contributions 251,169 $ 185, 337 $ In-kind contributions 41,888 61, 274 Special events, net 73,577 75, 694 Interest income 9,081 4, 182 Total revenues 375,715 326, 487 EXPENSES Scholarships and grants 240,048 166, 444 Contributions to other organizations 35,000 10, 000 Administrative expenses 41,888 61, 274 Other expenses - 517 Total expenses 316,936 238, 235 CHANGE IN NET ASSETS 58,779 88, 252 NET ASSETS, BEGINNING OF YEAR 1,464,666 1, 376,414 NET ASSETS, END OF YEAR 1,523,445 $ 1, 464,666 $
Grants
The Ohio Credit Union Foundation awards grants that support educational and outreach initiatives that promote financial independence through credit unions, professional and volunteer development, and disaster relief.
2022 Grant Report
More than $292k granted Grants by Type
Financial Education Social Responsibility
Professional Development
Disaster Relief Scholarships
$
$117,675
$70,675
$35,000 $26,586 $42,199
6 Grants 8 Grants
2 Grants 7 Grants 21 Grants
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New Beginnings Grants
Established in 2021, this specialized grant program is focused on four demographics and is designed to give people a way forward and an opportunity to feel financially empowered. The grant provides one-time support, up to $10,000, for programs, projects, or initiatives prioritizing individuals reentering local communities. In 2022, the Foundation awarded seven grants and invested more than $84,000 in local credit union communities.
NEW BEGINNINGS
The Stories
Toledo Metro FCU
$3,820 Invested
Partnered with Lucas County Children Services and The Fair Housing Center to teach foster youth, soon to emancipate, financial literacy.
Day Air CU
$7,140 Invested
Partnered with CHOICES to provide financial education to youth who fall into "emerged housing." education to youth who fall into "emerged housing." Partnered with Artemis to provide credit-building education and products to individuals in their domestic violence center.
Desco FCU
$4,670 Invested
Partnered with Hopesource to empower addiction recovery individuals to confidently manage their personal finances and set goals and plan for a successful future.
L.C.E. FCU
$10,000 Invested
Partnered with One Step at a Time to provide financial education, computers, and bus passes to young adults living in the organization’s safehouse program.
BMI FCU
$10,750 Invested
Partnered with North Community Counseling Centers (NCCC) to provide two Financial Fitness Boot Camp series to participants of NCCC’s Women’s Empowerment Program
2022 contributors
Individual Donors
Philanthropist ($1,000+)
Laura Auxter
Matt Jennings
Emily Leite
Paul Mercer
Patron ($500 to $999)
Kyle Alford
Andrew Canan
Kim Connor
Becky Landis
Kevin Mulder
Rosanne Schutzman
Jared Weiser
Friend ($250 to $499)
Sean Brown
Sonja Delaney
Melanie Koch
Natalie Phillips
Karen Reams
Dan Sutton
Supporter ($100 to $249)
Harina Baloni
Bill Burke
Christy Clark
Jamila Collins
Jay Conroy
Jeannie Fye
Takisha Martin
Richard Mensah
Jacqueline Moore
José Ortiz
Dean Pielemeier
Josh Reams
Robin Thomas
Donor (Up to $99)
Cameron Fry
Kurt Lykins
James McConnell
Lianne Simeone
Krane Stahler
CU and Business Partner Donors
Philanthropist ($5,000+)
Atomic CU
BMI FCU
Corporate One FCU
CSE FCU
Directions CU
Dover-Phila FCU
Kemba CU
National Cooperative Bank
Navatros
Pathways Financial CU
Sun FCU
Telhio CU Inc.
TrueCore FCU
TruStage
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14 Applications 9 Approved grants $22,750 Funds invested $62,000 Funds pending
2022 contributors (continued)
Patron ($2,500 to $4,999)
Abbey CU Inc.
Achieve CU
American Share Insurance
Excess Share Insurance
Associated School ECU
AurGroup Financial CU
Bridge CU Inc.
Buckeye State CU
CES CU Inc.
Cincinnati Ohio Police FCU
Community Star CU
Depreciation Protection, Inc.
Education First CU
Emery FCU
Fifth Third Securities, Inc.
Fremont FCU
GBQ Partners, LLC
ICA & Depreciation Protection, Inc.
Midwest Community FCU
River Valley CU Inc.
Starfish Computer Corporation
State Highway Patrol FCU
Towpath CU
Trinity Debt Management
TruPartner CU Inc.
VacationLand FCU
Friend ($1,000 to $2,499)
ATM Solutions, Inc.
Bay Area CU Inc.
Central States Health & Life Co. of Omaha
Christian Family CU
Cinfed FCU
CODE CU
Columbus Fair American Auto Auction
Commodore Perry FCU
Community First CU
Financial Northeastern Companies
Firelands FCU
Friends and Family CU
Frost Financial Services
Glass City FCU
Honda FCU
Impact CU
Integrity FCU
Jeep Country FCU
K4 Architecture + Design
KEMBA Financial CU Inc.
LeBrun Management Solutions, LLC
Millstream Area CU Inc.
OUCU Financial CU, Inc.
Postal Family CU Inc.
Riverview FCU
Sharefax CU Inc.
Strategic Resource Management (SRM)
SWBC
The Ohio Educational CU Inc.
TopMark FCU
Unity Catholic FCU
Universal 1 CU
University of Toledo FCU
ViClarity
Xlerate Group
Supporter ($500 to $999)
Advantage CU
All Saints FCU
Children’s Medical Center FCU
Cincinnati Interagency FCU
Cleveland Police CU Inc.
CME FCU
DayMet CU Inc.
Dynamic FCU
Educational Community Alliance CU
Falls Catholic CU Inc.
Geauga CU Inc.
Harvest FCU
Kyger Creek CU Inc.
L.C.E. FCU
Lake County Educational FCU
Latvian Cleveland CU Inc.
Lillie & Company LLC
North Coast CU
Northwestern Mutual
Ohio HealthCare FCU
Painesville CU Inc.
Pillar CU Inc.
Port Conneaut FCU
Quest FCU
Southeastern Ohio CU Inc.
Steel Valley FCU
Toledo Metro FCU
Wayne County Community FCU
Wiremen’s CU Inc.
Donor (Up to $499)
Accolade Investment Advisory
AllWealth FCU
Atrium CU Inc.
Auto Link
Bankjoy
Best Reward CU
Brewster FCU
Cardinal CU Inc.
Champion FCU
Chivaho FCU
Cincinnati ECU Inc.
Cleveland Church Of Christ FCU
Community United CU
CompuSource Systems, Inc.
Credit Union of Ohio
CU Solutions Group
David Watson Consulting, LLC
Day Air CU Inc.
Dillonvale FCU
Eaton Family CU Inc.
Edge One
Elan Advisory Services
Eltropy engage fi
Faith Community United CU
Fasson EFCU
Federal Home Loan Bank of Cincinnati
First Miami University Student & Alumni FCU
FIS
Genesis ECU Inc.
GenFed Financial CU
Girard CU Inc.
Donor (Up to $499) (continued)
Greater Cleveland Community CU
Greater Wayne Community FCU
GROhio Community CU
Heekin Can ECU
IH CU Inc.
Insurance Systems Incorporated
JMFA
KASASA
Kennametal Orwell EFCU
KRATON Belpre FCU
Lake Community FCU
Local Union 392 FCU
Maple Street Inc.
Marketing Solutions Unlimited
Materion FCU
Maumee Educators FCU
Maumee Valley CU Inc.
McQueen Financial Advisors
Member Access Processing
Member First Mortgage
Minerva Area FCU
myCUmortgage
MyUSA CU
New Horizon FCU
NoteWorthy FCU
Nueva Esperanza Community CU
ODJFS FCU
Ohio Valley Electric Company
Oppenheimer
Origence
Parish FCU Plumbers 55 FCU
Producers ECU Inc.
PWCampbell
Relentless Recovery
Retriever Digital Signage
Route 66 Warranty
S & J School EFCU
SCFE CU Inc.
Scott Associates CU Inc.
SHAZAM
Skipco Auto Auction
SmartStep Solutions
Softite Community FCU
Sottile & Barile, LLC
St. James Parish CU
State National Companies
Superior Financial Solutions
Sylvania Area FCU
The Sheeter Group
Toledo Urban FCU
TransFund
USI
UTU FCU
Weltman, Weinberg & Reis Co., LPA
Western Region FCU
Whitewater Community CU Inc.
Wright-Dunbar Area CU Inc.
Wright-Patt CU Inc.
YS FCU
YTR Community FCU
Zest AI
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About the Foundation
The Foundation empowers credit unions through access to elevated knowledge, growth of internal competencies and capacities, and support in recovering from disasters.
OUR VISION
People empowered by knowledge to improve our world.
OUR PURPOSE
To support education and outreach initiatives that promote financial independence through credit unions.
10 West Broad Street, Suite 1100, Columbus, Ohio 43215 Phone: (800) 486-2917 ohiocreditunionfoundation.org