ELCA Federal Credit Union in Chicago helps members build emergency savings by matching their deposits up to $50 per month, says Luis Reyes, CEO of the $25 million asset credit union.
The ministry-based credit union does this through grant dollars from church sponsors and affiliates, Reyes says.
The effort is part of the credit union’s focus on improving members’ financial well-being.
Reyes discussed these efforts during the 2021 CUNA Governmental Affairs Conference.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.
