Philanthropy and volunteering can take on many forms and is not just needed during times of crisis, though there is no question that’s often when the need is greatest. The Credit Union Journal recently highlighted some of the wonderful ways credit unions are giving back. A Florida based credit union’s donation helped with programs and services for Tampa Bay's Boys’ and Girls’ Club; similarly, a credit union’s donation in Massachusetts helped provide much needed school supplies through the Boys and Girls Club.
In times of crisis like a natural disaster, credit unions can be the lifeline to safety and survival – both physically and financially. They often provide financial assistance in the form of emergency loans to victims to help them survive while they recover and rebuild. In Hawaii in 2018, in a city overcome by rain and flooding, a credit union mobilized its employees and delivered filled gas cans and other supplies in personal trucks. They used “dry bags” filled with electronic devices and forms in order to offer financial assistance, and using boats and jet skis when they needed to, hiked to where people needed assistance in areas cut off by the flood.
Examples abound where credit unions have stepped up for their communities. And in doing so, they have endeared themselves to the cities and towns in which they reside and service. Members may join initially because of an affiliation, but stay because of the way they are treated. Successful and growing credit unions realize their footprint in the community is so much more than just the physical structure their credit union occupies. They know in giving back, you get so much more in return. Philanthropy and a strong relationship with the community is just one attribute that sets credit unions apart from other financial institutions – and demonstrates The Credit Union Difference.