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 Spring 2022 edition highlights inclusive lending, succession planning, fair lending and artificial intelligence, and the use of environmental, social, and governance (ESG) as a competitive differentiator.
