Below you will find frequently asked questions involving grants, the application process, and more.
For any questions or more detailed information, please reach out to the Foundation at [email protected].
What information is required in the grant application?
The grant application template and grant proposal guidelines includes all of the information necessary for an application.
Implementation Grants
- Workforce Housing Implementation Grant Guidelines
- Rural Access to Financial Services Implementation Grant Guidelines
Planning Grants
When is the grant application deadline?
The Foundation’s grants program operates on an open cycle and applications are accepted and reviewed throughout the year. There is no application deadline.
When can I expect a response to my grant application?
Most requests will be reviewed and a response sent to the applicant 30 days after receiving the application. For larger requests ($50,000 or above), please allow for up to 90 days to receive a response.
How much should I apply for?
The Foundation’s grants program offers planning and implementation grants. Credit unions are encouraged to apply for the reasonable funding necessary to complete the scope of work detailed in your application. Please note: the Foundation does not award pass-through funds for credit unions to make charitable donations to non-profit organizations.
The maximum amount of funding awarded varies by grant type and is listed below:
Planning Grants – up to $20,000
Implementation Grants – up to $100,000
What is the difference between planning and implementation grants?
Planning Grants
If your credit union is interested in gaining a greater understanding of a specific need in your region or the role your credit union can playing in addressing an issue facing your community, a planning grant might be a good resource for you. The purpose of a planning grant is to identify a local need or challenge and then develop an action plan to pilot solutions to address that need. The plan should be well-reasoned, broadly accepted by your stakeholders, and specifically designed to identify and address the unique challenges faced by your credit union’s own communities. Through this grant opportunity, the Foundation will fund feasibility studies, financial analysis, policy research and development, project management expenses, focus groups, and any other reasonable expenses necessary to fully develop a project implementation plan. Planning grants recipients will not be guaranteed project grant funding after completion of their planning activities. However, the Foundation is committed to building valuable relationships with GoWest credit unions and will work to help your credit union achieve its community impact goals.
Implementation Grants
If your credit union has already begun engaging in your community around a specific challenge or need and has a product or solution you would like to implement, a project grant might be a good fit. The purpose of the project grant is to pilot or expand a product or program to decrease the barriers to financial health in your community. Each project plan should be comprehensive, well-reasoned, and designed to address the unique challenges faced by your community. To the greatest extent possible, your project plan should be based on research and data. The Foundation encourages credit union members to be a part of the planning process and have a voice in the selected project plan their credit union chooses, as it will directly benefit themselves and their fellow members. Through this grant opportunity, the Foundation will fund project management expenses, marketing and community outreach support (no more than 10% of budget), loan loss reserves, interest subsidies, targeted finance education, and other reasonable expenses necessary to implement or pilot an innovative product or program that aims to increase access to the resources necessary for individuals and communities to thrive financially.
What are the reporting requirements?
The Foundation will expect you to keep the Foundation informed of any changes to your project throughout your grant and attend a scheduled check-in call. At the end of your grant, you will be required to submit a brief narrative of your project’s results and impact to GoWest Foundation.
Who should I contact if I have additional questions?
For any questions or more detailed information, please reach out to the Foundation at [email protected].