Electro Savings Credit Union (St. Louis) is investing in its credit union members by having over one-third of its staff, 27 employees including President & CEO Stan Moeckli become Certified Financial Counselors.
“Providing financial counseling is key to empowering our members,” says Moeckli. "We believe this approach emphasizes long-term behavioral change in a person that leads to long-term well-being."
Electro Savings earned its Community Development Financial Institution (CDFI) designation from the U.S. Treasury in 2013 and has received a grant to develop alternative products to predatory loans that plague so many low and moderate income individuals and families.
“It’s not just about restructuring an individual’s debt. It’s about coaching people to change behaviors so they don’t fall back into the same situation again,” explains Moeckli.
The credit union intends to certify more of its staff this year as part of their community development initiative.
Captions: The latest staff members to earn their credential as Community Development Certified Financial Counselors.