Four credit unions that received Community Development Financial Institution (CDFI) funds are supporting outreach efforts for Bank On More, the statewide consumer outreach campaign that informs nonmembers about the benefits of credit union membership.
Alliance Credit Union, Electro Savings Credit Union, Poplar Bluff Federal Credit Union and United Credit Union presented checks to the Missouri Credit Union Association (MCUA) in support of community development across Missouri. The funds, totaling $262,000, will be used to expand Bank On More's media buy for television, radio, print, billboard and digital advertising.
According to the U.S. Treasury, the CDFI Fund supports mission-driven financial institutions that specialize in providing affordable credit, capital and financial services in minority and economically distressed communities. Credit unions that earn CDFI designations are eligible to apply for grant money and training to build the organization capacity.
"When credit unions collaborate we can accomplish amazing things together," says Stan Moeckli, president of Electro Savings Credit Union. "One of the unique elements of the credit union movement is our willingness to share ideas and work together for the greater good."Photo caption: Stan Moeckli presents a check for Bank On More to Halley Abbott, MCUA vice president of Communications.