UT Federal Credit Union (UTFCU) presented $29,000 in donations to colleges and universities within their field of membership during their annual meeting this month.
Supporting education is at the core of UTFCU’s mission, and has been since the credit union was founded in 1969. UTFCU provides many programs throughout the year to promote financial education. The credit union also makes scholarship and endowment contributions, which benefit general scholarship funds, to the institutions of higher education within their field of membership. These contributions come from 5% of the interchange income the credit union earns from debit and credit card usage by their owners.
Including the checks presented during the credit union’s annual meeting on March 2, 2017, UTFCU has given a combined total of $516,620.00 in scholarships and scholarship endowments to The University of Tennessee Knoxville, The University of Tennessee Martin, The University of Tennessee Health Science Center in Memphis, and Pellissippi State Community College.
Pictured are UTFCU’s President/CEO Debbie H. Jones and Vice Chair of UTFCU’s Board of Directors, Mike McNeil. Also pictured are representatives from The University of Tennessee Knoxville, Pellissippi State Community College, and The University of Tennessee Martin. The scholarship check for The University of Tennessee Health Science Center in Memphis will be presented in Memphis at a later date.
[x_alert heading=”About UT Federal Credit Union” type=”info”]UT Federal Credit Union is a member-owned financial cooperative. Where other financial institutions are required to look at customers and ask “how can we make money off this person?” UT Federal Credit Union asks “how can we make money FOR this person?” UT Federal Credit Union membership is open and anyone may be able to join. Today, UT Federal Credit Union has more than 22,000 member-owners and assets of over $250 million. The heart of UT Federal Credit Union has always been and will always be its owners.[/x_alert]
