October 2, 2020

Nova UA Federal Credit Union disburses $200,000 in grants to non-profits affected by COVID-19


Tom Hawrylko

The Clifton-based credit union distributed a second batch of grants on September 9.

CLIFTON, N.J. – From Ukrainian civic and social organizations in New Jersey to veterans’ posts and civic groups in Clifton, N.J., Nova UA Federal Credit Union, which is headquartered at 851 Allwood Road, Clifton, has touched the lives of many since its founding 60 years ago.

Recognizing the negative economic impact COVID-19 had in its service area, Nova requested and received two grants from Federal Home Loan Bank of NY, which Nova, in turn, dispersed to 24 non-profits in the region.

The $200,000 was distributed among non-profits that experienced a decrease in revenue due to the pandemic. The Nova grants will help restore funds lost during the pandemic by churches, schools, youth organizations and other entities serving the Ukrainian community in New Jersey.

Recipients of the first batch of grants distributed by Nova UA Federal Credit Union on July 1.

Among the qualified recipients were five parishes, three cultural centers, the local school of Ukrainian studies, branches of Plast Ukrainian Scouting Organization and the Ukrainian American Youth Association, as well as the Ukrainian National Foundation.

Board Chair Dr. Michael Lewko said Nova first opened its doors in 1960 on Hope Avenue in Passaic, N.J., on the premise of people helping people. “We believe that it’s important to be a responsible social member and support the communities we serve,” he added. “Every year, a portion of our earned profits go to support local churches, scout organizations, cultural events and other community foundations.”

But COVID-19 amped up that need, and Nova UA FCU was there to respond.

“We are much more than just a credit union that offers competitive financial services and great member support,” said Val Bogattchouk, Nova’s CEO. “We also take initiative to help our communities succeed and grow. Our focus is on taking care of our members and the community we serve. We are happy to help.”

For more information, readers may go to the credit union’s website at novafcu.com.

Val Boggattchouk, CEO of Nova UA FCU, presents a check for a $10,000 grant to the Ukrainian National Foundation’s treasurer, Roma Lisovich, on September 29.