Mazumans and Numuzans alike have had their say as Mazuma Credit Union’s ($524.3M, Overland Park, KS) new foundation prepares to make its first contributions to the well-being of Kansas City.
Mazumans are employees of the credit union and Nuzumans, of course, are new hires just coming on board. Some of the causes these staffers support are now being considered for funding by the new Mazuma Foundation.
The foundation began operating in January, just months before Mazuma moved its headquarters from downtown Kansas City, MO, into a new home in the Kansas suburbs. The credit union will contribute 5% of its net income into the foundation every year, and local organizations may apply for grants to support myriad activities and causes.
CU QUICK FACTS
MAZUMA CREDIT UNION
Data as of 06.30.15
- HQ: Overland Park, KS
- ASSETS: $524.32M
- MEMBERS: 55,444
- BRANCHES: 10
- 12-MO SHARE GROWTH: 5.63%
- 12-MO LOAN GROWTH: 9.38%
- ROA: 0.71%
To qualify for a grant, organizations first must meet muster with the Greater Kansas City Community Foundation, whose management of the Mazuma Foundation includes handling all reporting functions and ensuring all applicants are 501(C)3 organizations, says Mark Thompson, the credit union’s AVP of business and community development.
When Greater KC clears the organization, the applicants go to Mazuma for the final call. And the credit union has its own list of criteria it considers.
All organizations must fit into one of the three pillars we built our corporate social responsibility program around: the arts, education, or community development, Thompson says.
To that end, Thompson tries to meet with applicant organizations to ensure their cultures, mission, and values align with Mazuma’s. But the Mazuma Foundation also wants to support those organizations its employees hold dear.
We evaluate what Mazumans are already involved with, Thompson says. And during our new hire onboarding I talk to Nuzumans about what organizations and charities they work with.
All organizations also must fit into one of the three pillars we built our corporate social responsibility program around: the arts, education, or community development.
The application process opened in May, and the credit union has received nine so far, Thompson says. Mazuma plans to distribute its first round of grants in December.
The credit union’s monetary support of its community will be joining the well-established history of personal involvement by Mazuma employees. The credit union’s 40 Hours for Good program pays employees up to 40 hours per year for volunteer work they do on company time. This year, that has included activities as diverse as a food bank, community choir, and Big Brothers & Big Sisters, where Mazuma’s president and CEO serves on the Corporate Club, Thompson says.
With our funding of the Mazuma Foundation, we will now be even more equipped to give back to our community, Thompson says.
Mazumans volunteer for the Harvesters community food network as part of
Mazuma’s 40 Hours for Good initiative.
You Might Also Enjoy
- Turning On The Foundation-Funding Spigot
- A Framework For Philanthropy
- How To Build A Better Tomorrow