Supporting community efforts
CoVantage Cares Foundation
CoVantage Cares Foundation, Inc. was created to assist local organizations who serve individuals and families experiencing significant financial challenge. The Foundation also has an interest in supporting efforts to improve the quality of life and long term viability of communities served by CoVantage Credit Union.
As a member-owned financial cooperative, CoVantage Credit Union believes in giving back and supporting efforts to improve the communities where their members live and work. Annually, the credit union fulfills this portion of their mission by providing financial, and hands-on support to hundreds of local causes. However, CoVantage wants to do even more. They believe that by combining their own resources with those of others who also want to do good, there is an opportunity to have a greater impact helping others. With this in mind, in 2016 the public charity, CoVantage Cares Foundation, was established.
In alignment with the corporate mission of CoVantage Credit Union, its Board periodically approves funds for CoVantage Cares Foundation. Additional funding may be available by repayment of loans made possible with grant money CoVantage was awarded because of their designation as a Community Development Financial Institution. A third source of funding may be contributions from staff and community members who see CoVantage Cares Foundation as a way to leverage their giving.
CoVantage Cares provides grants to projects and efforts that:
- Improve the vibrancy and livability of CoVantage communities.
- Make long-lasting improvements to the quality of life for CoVantage members.
- Improve financial wellness and financial education for a specific group.
- Promote the credit union mission of working with members experiencing financial challenge.
- Use foundation resources wisely while meeting a specific community need.
Examples of requests that would not typically be funded by CoVantage Cares include:
- Operating expenses, losses, or salaries.
- Improvements to personal property of an individual.
- Requests that would primarily benefit individuals.
- Requests to support individuals or groups outside CoVantage Credit Union's charter area.
A Grant Request Application can be completed by downloading an Application [PDF]. Grant Application Guidelines [PDF] are also available to download.
Completed applications must be submitted either online or by U.S. mail and received no later than 5 p.m. on the first working day of March, June, September, or December. The Foundation Board of Directors meets on a quarterly basis and will consider requests received prior to the above deadlines. Applicants will be notified of the outcome of their application shortly after such Board consideration.