FAQs

Frequently Asked Questions

Educational Credit Union Scholarships:

What if individuals from my credit union do not automatically qualify for educational scholarships?
For our consideration, please forward a written explanation of what educational opportunity you are pursuing, why it is of special importance to your career or professional development at this time and any other additional information that will help establish a determination.

What if applicants from my credit union have used all of the automatically approved scholarship dollars this year and would like special consideration for additional funds?
If you feel that your need for additional funds to attend an educational opportunity is a unique situation that requires additional consideration due to a great need or extraordinary situation, we would be glad to accept additional information from you to present to the SECUF Management Team. Simply forward a written explanation of what you are pursuing, why it is of special significance at this time, and any other additional information that will help establish a determination. This information will be forwarded to the SECUF Management Team for a decision, usually within two weeks.

How are exceptions to the criteria for scholarship eligibility determined?
The SECUF Management Team takes into consideration the history of scholarship requests/approvals, the applicant´s credit union’s financial situation – such as if the credit union is financially sound, the recommendations made for the proposed education by an outside source, and the value of the particular educational subject matter to the credit union’s situation. League Representatives are often involved in the research process.


Donations:

Is my donation tax deductible?
Donations made to the Southeastern Credit Union Foundation [a 501(c)(3)], the National Credit Union Foundation, and/or Children’s Miracle Network through the CU4Kids Program are tax deductible when applicable by law. Seek advice from a licensed CPA, to be certain.


Disaster Relief Assistance:

If I’m a victim of a disaster, how do I know if I’m eligible for a relief grant through your Foundation?
In times of natural disasters, concern for our credit unions and the communities they serve is a top priority for the League of Southeastern Credit Unions (LSCU) and the Southeastern Credit Union Foundation (SECUF). In an effort to meet the needs of our credit unions in times of disaster, the SECUF has a Disaster Relief Fund that is available to assist our credit unions, members, employees, volunteers and the communities that have been impacted. Grants are available to fund emergency needs, as well as, long-term and ongoing needs. Contributions and donations are currently being accepted.

Through assistance with the SECUF and the National Credit Union Foundation (NCUF), disaster relief funds can be used for a broad range of disaster-related needs as identified by credit unions in affected areas and approved by the SECUF. These needs include, but are not limited to the following items:

Critical Needs - Credit union employees, members and volunteers can receive assistance for items for daily living such as, but not limited to food, water, ice, batteries, clothing, diapers, temporary shelter, housing, gas and transportation.

Longer-term Recovery Needs - After surviving the initial emergency, credit union employees, members and volunteers may still face long-term needs related to the disaster. Even after they recover what they can from insurance payouts, victims may need assistance rebuilding or relocating to a new home, replacing lost vehicles and household items. As long as funds remain in the SECUF Disaster Relief Fund, the Foundation in concert with its agent(s) managing the recovery efforts may expand the grant criteria to include these and other longer-term recovery needs that are not fully covered by insurance.

Reasonable Operational Needs - While the SECUF’s first priority in disaster relief grant-making is to assist credit union employees, members and volunteers assistance may also be provided directly to credit unions and their support organizations in order to help them become and remain operational. Operational expenses related to disaster recovery may include items such as relocating, setting up temporary service facilities, joining shared service networks, hiring temporary staff, mentoring and counseling traumatized staff, repairing building damage, replacing destroyed computer software/hardware, office furniture, office supplies, and other needs that are not fully covered by insurance. All purchases must be reasonable and of the same standards as being replaced. For more information regarding our guidelines, click here (include link to DR Application with guidelines)

As a Disaster Victim, where can I find additional resources aside from your Foundation?
Below are resources credit unions may use to assist in disaster recovery. Also provided is the status of credit union branch operations.

Click here to find shared service branch locations in Alabama.
Click here to find shared service branch locations in Florida.

Resources for Credit Unions: