December 2, 2010
Local Schools Receive $200,000 in Unexpected Grants
Muscle Shoals, ALABAMA—In the face of statewide budget cuts, over 160 north Alabama schools have received much-needed financial assistance from a surprising source – a non-profit credit union. Listerhill Credit Union recently donated more than $200,000 to schools in the 12 north Alabama counties they serve, according to Clay Morgan, Vice President for Finance at Listerhill.
“Our check from Listerhill Credit Union came at a very appropriate time,” said Phillips High School Principal Lynda Hall. “This year there was no state funding for classroom materials and supplies, library enhancement, professional development or technology.”
Hall explained that many schools try to raise additional funds through concessions sold during school breaks, but with the struggling economy students do not have extra money to spend on snacks.
Hamilton High School Principal Ronnie Miller said schools did not receive state funding for janitorial supplies either. “It’s a tough time,” he explained. “One of the things you expect when you send your children to school is a clean, healthy environment. Schools have to raise their own funds for it.”
Alabama’s education budget has declined 20 percent over the past three years, according to the Sunshine Review, a government watchdog website.
“We realized the dire financial needs of local schools were affecting our members, their children, their grandchildren and neighbors,” said Listerhill President Brad Green. “We wanted to create a program to help local schools while encouraging community involvement.”
Listerhill Credit Union launched their “Pick 5” promotion in April to benefit local schools. New or current members of the credit union who signed up for a Pick 5 or The Hill account were rewarded with a $50 donation to the public or private school of their choice as long as it was within the 12 counties Listerhill serves. The promotion concluded October 31 with over $200,000 raised.
“We have been overwhelmed by the way our members and the local communities responded to this promotion,” said Green. “Their first responses were disbelief. People thought it might be too good to be true. But once reality set in, members quickly spread the word to help their local schools.”
The promotion also turned into a contest among area schools. On top of the $50 donations, Listerhill promised a $5000 grand prize to the school with the highest percentage of Pick 5 accounts per student body and five $1000 prizes to the runners-up.
Additionally, the school with the highest percentage of accounts at the mid-point of the campaign received a $2500 grant.
Hamilton High School earned the $5000 grand prize and $2500 mid-point prize. Central, Cherokee, Muscle Shoals, Phillips and Winston County high schools all received $1000 runner-up grants.
“Receiving almost $12,000 from Listerhill Credit Union was a god-send,” said Miller. “It was actually kind of exciting to lead a contest with 12 counties. That’s 20 percent of Alabama. That’s a big deal!”
Miller said his school will put the funds in their general account to use in a number of areas. While he hopes to use some of the funds to purchase Interwrite Mobi Pads which will allows teachers and students to simultaneously collaborate on digital content, he said funds will be used carefully where needed most from academics to the physical plant to security.
Principal H. L. Noah said the funding helped Muscle Shoals High School provide essential equipment for teachers and professional development training. “And we’re able to continue our tutoring service for struggling students. Out of all we were able to do, that was probably the most important.”
Central High School Principal Keith Morris said, “It has by far been the best help we’ve had from any corporate sponsor because the money was not ear-marked for a certain item. We can use it for what we need.”
The promotion was an extension of Listerhill’s commitment to education. Like most local financial institutions, the credit union funds college scholarships and donates to school programs. In addition, the credit union is committed to equipping area high school students with the basic financial skills they need through classroom instruction, workbooks and personal finance software for schools. In 2009 alone, more than 1300 students from 19 schools benefited from Listerhill’s financial education presentations in their classrooms. In 2010, Listerhill partnered with the University of North Alabama to create The Center for Financial Literacy and launched their Pick 5 school grant promotion.
Listerhill Credit Union is a not-for-profit, member-owned financial institution. Founded by Shoals residents over 50 years ago, Listerhill has grown to include more than 60,000 members, $470 million in assets and 17 branches, making it the 7th largest credit union in Alabama. For more information, please visit www.listerhill.com or call 256-383-9204.
