Sample Commitment Letter

Generous Donor Company
123 Sunset Drive
Anywhere, USA 00000
DATE

Organizer’s Name
Proposed New Federal Credit Union
456 Your Street
Somewhere, USA 00000

Dear Ms. Johnson:

We are pleased to inform you that Donor Company agrees to donate $100,000 to the proposed New Federal Credit Union. This is a binding commitment to provide funds for the federally chartered credit union. We understand and agree the donation is made without expectation of repayment by the proposed New Federal Credit Union. We will fund it no later than ten days after the National Credit Union Administration’s approval of the charter for the proposed New Federal Credit Union. Enclosed is a copy of our most recent financial statements supporting our ability to meet this commitment.

We are prepared to deposit the donated funds in escrow and/or provide updated financial statements documenting our ability to fund the donation, if the National Credit Union Administration requests that during the charter application process. If you have any questions, please let me know.

Sincerely,

 

Name
Chief Executive Officer
Donor Company

Enclosure

Last modified on
04/14/22