How Credit Unions Impact Their Local Community
Credit unions play a crucial role in fostering community growth and development, distinguishing themselves from traditional banking institutions through a strong local focus and community involvement. As not-for-profit organizations, credit unions reinvest their earnings into the community, leading to more affordable banking solutions and a significant emphasis on member service and community well-being.
Financial Inclusion
Credit unions are advocates for diversity, equity and inclusion and committed to providing banking services to all members of their communities; especially the underserved populations who may not have access to traditional banking services, which is central to fulfilling our missions. While a credit union requires membership, the criteria is easy to meet to get started as long as you live in defined areas, like counties.
Small Business Partners
Credit unions provide essential support to local businesses through loans and other financial resources that help these businesses start up, sustain and expand. This support not only aids in the economic development of the community but also helps in creating jobs and fostering innovation at a local level.
Financial Literacy
One of the foundational goals of credit unions is to promote financial literacy among their members. Many credit unions offer educational resources, tools and even in-person seminars to help individuals make informed financial decisions. Partnering with organizations like GreenPath, credit unions provide their members with access to financial counseling and wellness resources, empowering them to improve their financial health.
Community Focused
Credit unions actively support local organizations through sponsorships, volunteering, and collaborations, enhancing community engagement and development. This involvement ranges from participating in local charitable events to supporting small community-based projects. By fostering strong community ties, credit unions help build a network of support that benefits all members of the community.
KEMBA Can Help
Banking locally with a credit union like KEMBA Financial Credit Union isn't just a choice—it's a way to invest your dollars locally which supports your community. By choosing KEMBA as your banking partner, you benefit from lower costs, comprehensive financial services and a commitment to community enhancement that goes beyond banking.
Discover more about how KEMBA impacts the community by visiting our Community Page, checking out upcoming community events, or learning about financial wellness through our dedicated resources. If you're looking to invest your money with an institution invested in your local community, consider joining us at a local KEMBA branch. Let's work together to build a stronger community together.