Social Mission

MITFCU's social mission is to add value to the financial lives of our members, families, and communities. The approach to our social mission combines both financial and volunteer support. We encourage our employees and volunteers to get involved in our community and to support programs that make a positive difference.

Social mission can be defined by several categories, each with its own distinct characteristics, contribution guidelines, and volunteer participation requirements. Some can be accomplished simply with volunteer participation, while others can be accomplished by making monetary contributions or providing intellectual resources. There are also credit union industry related projects where MITFCU either takes an active leadership position and/or is an avid supporter of the initiative.

The following are various categories that define MITFCU's social mission:

• Charitable Donations — cash contributions only
• In-Kind Donations — equipment, expertise, and/or time is donated
• Scholarships — cash awards distributed throughout the educational system
• Volunteer Support — initiative supported by expertise and time
• Partnerships with Other Organizations
• Financial Literacy — programs geared toward improving basic financial knowledge
• Intern Program — paid jobs for students

Standards

MITFCU is committed to improving and sustaining its local community and continues to take an active role in both the community it serves and the credit union industry to which it belongs. The credit union philosophy of "People Helping People" is embedded in our history and is something we uphold by promoting the values of fiscal responsibility and self-reliance. Because we are entrusted with safeguarding our members' money, we are responsible to make prudent decisions regarding our corporate citizenship efforts. Requests for assistance must quantify the benefits the contributions will provide to the recipient(s) and the community in general; and must fall within one of the defined contribution categories above. MITFCU annually sets aside funds to support its social mission and selects projects that will provide the greatest value to the largest majority.

The following are the various events, functions, and charities MITFCU is currently supporting:

The Greater Cambridge Youth Foundation, Inc. is a charitable organization organized specifically and primarily to collect and distribute funds for philanthropic purposes within the Boston Metropolitan area in the Commonwealth of Massachusetts.

Charitable Donations to the Local Community

Cambridge Family & Children's Services
Cambridge Family YMCA
Cambridge Health Alliance
Cambridge Housing Assistance
The Children's Room
Consumer Credit Counseling Service of Southern New England (CCCS)
Dana Farber Cancer Institute
The Home for Little Wanderers
The Cambridge Community Foundation for the Kendall Community Group
The Food for Free Committee, Inc.
March of Dimes
MIT Community Service Fund
MIT Public Service Center
New England Shelter for Homeless Veterans
Pine Street Inn
Solutions at Work

Charitable Donations to the Credit Union Industry

Massachusetts Credit Union League - fundraiser for the homeless, book drive
International Credit Union Day
EasCorp - programs and events benefitting Children's Hospital
Credit Union House at Capitol Hill
NAFCU/PAC Administrative Fund
Filene Foundation

In-Kind Donations

Daffodil Days
CHIPS Child Identification Program
Child Safety Seat Inspection
Christmas in the City

Financial Literacy

MIT International incoming freshman
Independent Activities Period presentations on college funding, retirement income strategies, women and investing, estate conservation, etc.
Money 101: A Financial Guidebook for MIT Students
Road shows on electronic services, understanding your credit score, etc.
Home buying seminars for first-time home buyers
MEMBERS Financial Services program

Partnerships with Other Organizations

In addition to the aforementioned, MITFCU partners with many organizations both within the credit union industry and the community it serves to provide affordable financial services to its members and the underserved nonmember.
FSCC - international shared branching network
CO-OP - worldwide, CU-owned ATM network
Prime Alliance Solutions, Inc - partnership of over 500 credit unions providing mortgage solutions for members
National Consumers Cooperative Bank - provides financial assistance and cooperative housing
MIT Activities Committee - co-sponsors the MIT Community Dinner Dance

Intern Program

Student Drive - employed MIT students

Awards/Scholarships

MITFCU Annual Memorial Scholarship - (6) $1,000 winners
MITFCU People Helping People Award - $2,000 to winner and a $2,000 charitable donation

Volunteer Support

Hike the Hill
Make a Difference - MITFCU Community Involvement and Volunteering Program

Serving Economically Disadvantaged Members

Credit Builder Loans
$500 minimum certificate investment
Secured Visa® with a lower interest rate
Financial Assistance Health and Wellness program