Redstone to offer Community Impact Grant
Hartselle Enquirer
Redstone Federal Credit Union recently announced a new grant program for the community. The Community Impact Grant will provide grants of $50,000 and above, to local nonprofit organizations. The credit union is accepting its first round of applications from Feb. 1 through March 15. The first round will be awarded by May 31.
The new grant focuses on education, neighborhoods and community, and economic opportu-nity. Redstone’s Mary Grace Evans, senior assistant vice president of community relations, said the focus can be on current community needs and services provided, or future programs. “This is the brainchild of the board of directors and is one more way to support our community partners,” Evans said.
Traditionally, Evans said Redstone has sponsored community events and community advertising, and with the addition of the Impact Grant, it now aims to support larger programs.
The National Credit Union Administration (NCUA) allows credit unions to invest in certain accounts that can fund charitable causes. These combination investment accounts must contrib- ute at least 51% of their gains to qualified 501(c) (3)s within a specific time period. Funding for the grants will come from these accounts.
Redstone hopes to see this grant program grow and will adjust as the program progresses and needs arise, she added. Jasmine Sanderfer, president and CEO of the Hartselle Area Chamber of Commerce, said this is a good potential resource for the community. The chamber foundation is a 501(c) 3 and could benefit from the grant. Sanderfer said in addition to the chamber, groups such as The Caring Place, library and local churches would be great groups to apply. Applications for the Community Impact Grant program are now open, and Redstone encourages all eligible 501(c)3 and 501(c)19 organizations with transformative ideas impacting the community to apply. The program covers organizations that serve Jackson, Limestone, Madison, Marshall, and Morgan counties in Alabama; and Lincoln and Rutherford counties in Tennessee.
For more information, please visit redfcu.org.
