With the recent COVID-19 relief legislation, new sources of funding are being directed to underserved communities, especially communities of color. Community development credit unions have an important role to play in deploying these funds. The CDFI Fund's Rapid Response Program (RRP)will open by February 25, making available $1.25 billion in grants to CDFIs. Join Inclusiv for a webinar on Thursday, Feb. 4 at 2 p.m. EST to prepare for the RRP and other CDFI applications. All first-time CDFI Fund grant applicants are urged to attend.
Please note: Credit unions currently not CDFI Certified may be eligible for certification. Find out if you should apply for a Technical Assistance grant during the yet-to-be-announced FY 2021 funding round.
Dow Chemical Employees’ CU, Midland, MI, gave back $15.57 million to eligible members on Jan. 1 via rebates and rewards deposited to their savings accounts. This is the 40th consecutive year that DCECU has returned a share of its earnings to members, with a grand total of nearly $250 million.
John Zmolek of Verity CU, Seattle, has announced his upcoming retirement on April 14 after seven years as CEO. Zmolek will be retiring after 31 years with Verity CU, first as a board member and then in several different executive roles before being named CEO in 2014.
WEOKIE FCU, Oklahoma City, has appointed Jeff Carpenter as its new president/CEO.
Carpenter takes over the position from Brent Taylor, who has retired after over 30 years of service, the last 13 years as president/CEO.
ValleyStar CU, Martinsville, VA, has named Cheri Spence as its first chief information officer.
Jared Dryer has joined Westerra CU, Denver, as VP/consumer lending.
Orange County’s CU, Santa Ana, CA, has promoted Rebecca Bower to chief associate experience officer and new team member Raymond Lam has been named VP/enterprise technology services.
CP Financial CU, Jackson, MI, and Washtenaw FCU, Ypsilanti, MI, have merged to form TRUE Community CU, Jackson, effective Jan. 1.
Credit Unions Giving Back
Jeanne D’Arc CU, Lowell, MA, has donated $1,500 to the Greater Lawrence Family Health Center non-profit organization as part of the CU’s Give-a-Click program.
Employees of Langley FCU, Newport News, VA, recently installed new flooring in the games room of the Crossroads Village Boys & Girls Club in a day of service in honor of Dr. Martin Luther King Jr.’s legacy.
Hanscom FCU, Hanscom Air Force Base, MA, coordinated the base’s annual Giving Tree program to provide warm winter clothing to those in need. This year, 19 children from eight families received clothing through the drive.
American 1 CU, Jackson, MI gave to 65 organizations in nearby counties, with donations totaling more than $100,000 in 2020.
Ascend FCU, Tullahoma, TN, has been named in Training magazine’s Top 100 list for the seventh consecutive year. The Training Top 100 recognizes the top learning organizations across the globe with the most successful employee-sponsored training and development programs.
4Front CU, Traverse City, MI, has been named a 2021 Best of the Best award winner by MemberXP, a member experience solution from CUES Supplier member CU Solutions Group. The Best of the Best award is given each year to credit unions that have consistently provided exceptional member service, as reported by their own members.