Since 1932, Champion Credit Union has shared in our members' successes and they have helped contribute to ours. We are committed to being there for our members in times of need.
The Champion CU Member Relief Fund was established to provide financial assistance in the form of a grant to members who are experiencing financial hardship due to events beyond their control, including disasters, extended illnesses or injuries, and other special situations. The Champion CU Member Relief Fund does not aid with non-emergency situations or financial difficulties due to poor financial management, judgement, or negligence. Assistance for emergencies and crisis situations are considered on a case-by-case basis, and requested funding is not guaranteed.
FUND CRITERIA: the intent of the fund is to provide relief to Champion Credit Union members who are currently experiencing a financial hardship, meaning there isn't enough income and limited to no savings to meet your financial obligations. The criteria below are intended to manage limited fund resources and assist people in our community experiencing the greatest hardship. Before applying, please carefully read the qualifying criteria, which includes:
- Circumstances involving loss of household income (i.e., job loss, major illness causing medical debt, etc.). In these situations, the event must have already taken place, and the financial hardship is underway.
* What is financial hardship? In accordance with the IRS, financial hardship must be demonstrated in order to receive grant funding and is understood to mean negative monthly household income, meaning there isn't enough income and limited to no savings to meet your financial obligations. For example, in the case of job loss/closure of a facility, the date of the event is the first day you are no longer working, not the date of the announcement. In this example, assuming you had not found another job of comparable wages, you would apply after losing employment and after your savings reserves, if any, have been exhausted.
- In circumstances involving natural disasters, loss of personal property that you own (i.e., house, car).
- Losses not covered by insurance or government relief (FEMA, etc.). In these cases, documents showing the gap in coverage must be included in your application.
LIMITS: please review the following fund limits.
- To apply, you must be a member in good standing with Champion Credit Union and must have been a member of Champion Credit Union at the time of the event causing the hardship.
- The maximum relief grant amount is $2,000 per household per event/hardship. Only one grant per household can be received in a 12-month period.
If you are a Champion Credit Union member seeking assistance, please follow the link below to complete a short application and to provide supporting documentation for your request.
If you are a business owner or an individual wanting to make a tax-deductible contribution to the Champion Credit Union Member Relief Fund, please follow the link below.
The Champion Credit Union Member Relief Fund is managed by the Carolinas Credit Union Foundation, a 501(c)(3), grant-making public foundation supported by the credit union system in the Carolinas.
While job loss and uncertainty can be difficult, we want to assure you that we are here to help provide support and direction through this process. We have team members available to provide guidance and answers to your financial questions. Follow the link below for a resource guide to help with some of the most common questions.
NOTE: Grants may take up to five business days to process by the Carolinas Credit Union Foundation, the administrator of the Champion CU Member Relief Fund. Notification on the application status will be provided by the Carolinas Credit Union Foundation via email with funds disbursed to your Champion Credit Union account within two business days of your grant’s approval. A grant is not taxable income.