The MCU Foundation

Come meet Naeem, one of the first recipients of our first-time homebuyers grants, who states that, "The grant is an excellent resource and very helpful in achieving American Dream." Naeem is pictured here in his first home. Congratulations! 👏 The MCU Foundation supports homeownership as one of the key ways to build generational wealth. To find out more about the first-time homebuyer grant, visit https://lnkd.in/e7aM5RCM To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #GenerationalWealth

Did you know? In New York City, the top 1% of households hold 26% of total wealth, while the bottom 50% hold less than 3%. This extreme concentration of wealth among a small percentage of households makes it difficult for many families to accumulate and pass down assets. The MCU Foundation focuses on creating generational wealth, to help all families to thrive. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #NYCPoverty #GenerationalWealth Source: USAFacts.org

Did you know? Nearly one in five New Yorkers relies on a food bank for food and other resources. Focusing on eliminating poverty in New York City, the MCU Foundation leverages giving and relationships with and through community organizations to make a difference. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #NYCPoverty #hunger #GenerationalWealth Source: Food Bank for New York, Hunger Cannot Afford to Be Hidden, retrieved 8.09.24 at https://lnkd.in/dmgU7CMi

Our mission at the MCU Foundation is to help New Yorkers build generational wealth and eliminate poverty in New York City. But what exactly is generational wealth and why is it important? #themcufoundation #GenerationalWealth

Did you know? It’s not a “failure to launch” – a sizeable number of young New Yorkers are struggling to make it on their own: · The poverty rate of young adult New Yorkers (ages 18-30) is notably higher than adults ages 31-45 (15%). · While a majority of young adults are employed either full- or part-time (63%), young adults working full-time earned $30,000 less than full-time working adults ages 31-45 on average. · Almost half of young adults in the city lived with adult family members (48%), and only 15% lived without any other adults in their household. Young adults that lived with adult family were 8 percentage points less likely to be in poverty (26%) than those that lived without other adults (34%). The MCU Foundation is dedicated to the eradication of poverty in New York City, including among our next generation of future leaders and heroes. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #theMCUfoundation #NYCPoverty #GenerationalWealth SOURCE: Robin Hood and partners, "SPOTLIGHT ON YOUNG ADULTS IN NEW YORK CITY: Economic experiences along the transition to adulthood" (period studied: 2015-2021)

When most have so much, many don't have enough. That's why #GiveSomethingAwayDay was created. The MCU Foundation has a focus on Basic Necessities for this reason: to provide financial support directly to our neighbors who need it most. Celebrate this day by joining our colleagues at Municipal Credit Union! To donate, use this link: https://bit.ly/3sTplmG

The celebration continues! Come meet some of our scholarship recipients and share their joy in this brief video as they learned each of them was to receive a $5,000 award. The MCU Foundation focuses on education because education is a key to creating generational wealth. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #scholarships #GenerationalWealth

We are celebrating! At a special dinner this past week, we presented the first annual MCU Foundation scholarships to 16 deserving NYC-area high school seniors to aid them in their future educational endeavors – $75,000 in total! We are so proud of the winners; MCU members who wrote meaningful essays about how credit unions make a difference in their communities.   MCU Foundation scholarship recipients will be attending such prestigious institutions as: The City College of New York, Florida A & M University, Howard University , Lafayette College , Loyola University Maryland , Morehouse College, Rhode Island School of Design , Spelman College , St. John's University, Stony Brook University, Syracuse University, and Williams College. Please take a look at pictures of some of our scholarship recipients and join us in congratulating them!   The MCU Foundation focuses on education because education is a key to creating generational wealth. As MCU Foundation President George Chacon noted in his comments at the event, research shows that families with at least two generations of college have seven times the wealth of those without two generations of college degrees. That’s why the MCU Foundation will continue to support education – and our amazing young scholars. Our thanks to the New York Credit Union Association for administering the scholarship program. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #scholarships #GenerationalWealth

Exciting News! Last week, the MCU Foundation awarded its very first First-Time Home Buyer Grant of $10,000! This grant is not just about providing a home; it's about breaking barriers and building generational wealth. Homeownership is a powerful step toward financial stability and prosperity, and we are thrilled to support our community in this journey. Congratulations to our inaugural grant recipient! We look forward to seeing the positive impact this will have on your life and future generations. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #Homeownership #GenerationalWealth #CommunitySupport #FirstTimeHomeBuyer

Did you know? New York City had THE HIGHEST percentage rent increase in the entire country in 2023 -- seven times the rate of wage growth! Increasing rental costs are one reason that more New Yorkers are facing poverty. The MCU Foundation will continue to look for solutions to poverty in New York City. To support the MCU Foundation and its programs, make a donation here: https://lnkd.in/eMybN887 #themcufoundation #NYCpoverty #generationalwealth SOURCE: https://lnkd.in/e2iGzDrK