ST. LOUIS (8/17/15)--Access to reliable transportation to and from work can often be a big hurdle to financial independence. Electro Savings CU, St. Louis, is making sure minorities and women seeking employment in construction trades can find that transportation in their community.
Earlier this year, the credit union partnered with MoKan, a local organization that assists minority, female-owned construction companies in the St. Louis area, to provide a training program for future careers in construction.
In addition to offering program graduates a checking account with no minimum balance or monthly fee, Electro Savings offers them affordable auto loans when they secure jobs.
This month, program graduate Danny Combs became the first to receive an auto loan through the partnership, the Missouri Credit Union Association reported (Missouri Difference Aug. 6).
“Danny is an example of how hard work and commitment to job training is working to improve our community. We are very proud to partner with MoKan and welcome Mr. Combs as a new member the Electro Savings family,” said Stan Moeckli, Electro Savings’ president/CEO.
The inaugural class of the training program began in May and included 25 minority and female students ranging in age from 20 to 58 years old.
Electro Savings supports the program’s curriculum with weekly financial education sessions that teach students how to manage their finances once they secure employment.