Give a Hand Up
Make a Donation for an Impact Loan
Donate
How It Works
Why give?
Your donation goes directly toward growing CBC Federal Credit Union’s Community Impact Fund. Your gift enables even more qualified employees who are struggling to meet basic needs such as food, housing, and medical expenses to receive the hand up that they need.
The gift that keeps on giving!
Due to the Impact Fund’s unique model, loans are paid back directly into the fund over the course of a year. This means your gift that will help make a loan possible will also get “paid back” to the fund so that additional employees can benefit from a loan.
Employees Begin to Thrive
Your donation will not just help one colleague and their family, but through the repayment of the loan, it will be multiplied to help future generations and create healthier local economies for years to come!
FAQs
What is the Community Impact Fund?
The Community Impact Fund (CIF), a non profit 501c3, serves as our loan administration partner for the CBC Federal Credit Union Impact Loan Fund. They also manage the fund itself and any donations going to the fund. They provide the loan application and distribution platform so that the application, approval and payback process remains completely anonymous from CBC Federal Credit Union. CBC Federal Credit Union won’t know who applies for assistance or be involved in the loan process. CIF will allow us to provide emergency loans to CBC Federal Credit Union employees to help them through unexpected situations. Similarly, you can elect to have your donation to the fund remain anonymous. CIF does provide quarterly reporting on all donations made to CBC Federal Credit Union’s fund.
Will my donation to the Fund be tax deductible?
The IRS recognizes CIF as a 501c3 public charity. Contributions to CIF may be eligible for tax deduction in the U.S.A. Please consult your tax advisor for eligibility.
Will I receive a tax receipt for my donation?
Yes, you will receive an email tax receipt at the time of donation from CIF. If applicable, donors will receive a year end tax statement.
What is the money used for?
Your donation goes directly to the Impact Loan Fund established by CBC Federal Credit Union. It helps to provide interest-free, emergency loans to eligible CBC Federal Credit Union employees. The loans are paid back directly back to the fund in the form of monthly payments so that loans can then be made to additional employees. The Impact loan will meet the specific needs of CBC Federal Credit Union employees that are facing an unforeseen financial hardship.
Who do I contact if I have any questions about this program?
Please reach out to Courtney, CIF’s Director of Impact, at courtney@communityimpactfund.org.