Across the country, credit unions are making a tangible difference in their communities, demonstrating that financial institutions can be more than just places to deposit money — they can be catalysts for economic empowerment, financial inclusion, and social good. In celebration of the roles credit unions play in supporting local prosperity and fostering lasting change, CreditUnions.com is shining a light on four inspiring stories of credit union impact.
A Lifeline For Community Members In Crisis
Credit unions have long prioritized people over profits, and Hello Credit Union ($164.9M, Panama City, FL) exemplifies this commitment through a campaign that refers members in distress to a local hotline for emergency social assistance, including for housing, food, mental health, and more.
“This isn’t just something you see on social media or the news,” says CEO Mike Akers. “These are people in your community. These are your neighbors. There are people in your community who are struggling.”
But the credit union doesn’t only refer members, it also offers financial support for others in the network, demonstrating the human touch that sets credit unions apart.
Affordable Homeownership Via Creative Funding
Affordable housing remains a critical issue nationwide, and credit unions are stepping in to help build inventory. Heritage Family Federal Credit Union ($773.4M, Rutland, VT) leverages state funding to expand homeownership opportunities.
“We are not-for-profit with a beautiful tax exempt status that we care for and want to sustain,” CEO Chris Gomez says. “The way to do that is to do things that are better for the community and not necessarily for the bottom line.”
Roofs Over Rutland underscores how credit unions serve as vital community partners in addressing systemic financial challenges.
Engaged Volunteers. Stronger Leaders.
Strong, engaged volunteers are essential to community prosperity. They’re also a vial part of the cooperative principals that guide credit unions.
A structured approach to volunteerism and leadership development enhances governance and strengthens community engagement at 3Rivers Federal Credit Union ($2.5B, Fort Wayne, IN), where “Concern For Community” plays a major role in recruiting and retaining enthusiastic employees dedicated to the mission of people helping people.
“We want people who have shown the commitment to volunteering and being out there in the community,” says Heather Bontempo, community engagement manager at 3Rivers.
Microbranches Bring Financial Services To Underserved Communities
Many rural and underserved areas lack access to traditional banking services, but some credit unions are closing this gap through innovative microbranches.
Small-scale, tech-enabled branches at Tongass Federal Credit Union ($224.7M, Ketchikan, AK) serve far-flung communities with a cost-effective model that prioritizes accessibility. This approach ensures financial services remain within reach for members who need them the most.
“These people live on islands,” CEO Helen Mickel says. “They live somewhere where you have to fly somewhere else to do something with your money. Having the site open was really helpful to the community.”
The Credit Union Difference
When it comes to fostering local prosperity, credit unions offer an approach rooted in community service, financial inclusion, and cooperative values.
Through compelling initiatives like these, credit unions continue to lead the charge in building vibrant communities, proving that financial institutions can, and should, prioritize the wellbeing of their members over profits. That’s credit union impact in action.