Credit Union Donations Support Bright Futures for Low-Income Kids

Several credit unions focused their recent community giving initiatives on supporting kids in low-income communities. In Yuma, Ariz., the $389 million Avenir Financial Federal Credit Union donated a digital marquee to Somerton High School, which opened in August 2023.

The high school was built to accommodate students living in Somerton, Ariz., who previously had to travel 10 miles away to Yuma to attend school, according to local news outlet KAWC. The new sign will serve as a “vibrant welcome for visitors and locals” and display current events for the school, according to Avenir Financial.

“We have been proud members of the Somerton community for over 30 years. The addition of the new high school is monumental for the community, and we wanted to contribute something that would have a lasting impact,” Avenir Financial President/CEO Adele Sandberg stated.

According to the U.S. Census Bureau, the median annual income for households in Somerton is $64,180 and city’s poverty rate is 16.8% – higher than the nation’s rate of 11.5%.

What’s more, five credit unions from four different states, as well as PSCU/Co-op Solutions, provided grants to support the launch of the second edition of the book “How to Turn $100 into $1,000,000” and its distribution to low-income elementary school students across the country. The book, a guide to earning, saving and investing money, is from the creators of the PBS TV show Biz Kid$, which is exclusively sponsored by credit unions.

According to an announcement from Biz Kid$ last week, each of the five credit unions will be hosting book-launch events in local Title 1 schools, where fifth graders will be given a copy of the book along with $100 in grant funds to theoretically turn into $1 million one day, per the book’s advice. Altogether, the credit unions will be handing out a total of up to $50,000 to students. PSCU/Co-op Solutions’ grant covered the cost of the books.

The five credit unions to provide the grants were: The $1.5 billion, Lathrup Village, Mich.-based Michigan First Credit Union; the $214 million, Germantown, Md.-based SkyPoint Federal Credit Union; the $448 million, Lake Charles, La.-based CSE Federal Credit Union; the $655 million, Fircrest, Wash.-based TAPCO Credit Union and the $668 million, Baton Rouge, La.-based Pelican State Credit Union.

Jamie Strayer, founder of CU Strategic Planning and co-owner of Biz Kid$, stated, “Biz Kid$ was produced with grants from 292 credit unions and system partners. And now, the investment by PSCU/Co-op Solutions and the credit unions supporting this book launch shows that Biz Kid$ is more relevant to credit unions than ever before.”

In other community giving news, in honor of Earth Day 2024, the $8.7 billion, Portland, Ore.-based OnPoint Community Credit Union donated $100,000 to four nonprofits focused on environmental and wildlife protection.

The four recipient organizations were: The Nature Conservancy in Oregon, which manages conservation projects such as forest restoration; Friends of Trees, which partners with local communities to plant trees; McKenzie Land and Trust, which helps protect and restore western Oregon’s land and waters; and the Columbia Slough Watershed Council, which partners with community members to enhance the Columbia Slough and its watershed through community engagement, education and restoration. Each received $25,000 from the credit union.

According to OnPoint, the donation was part of its Green Horizons initiative, which launched in 2021. In addition to enabling partnerships with local environmental nonprofits, the initiative provides OnPoint members with financing discounts on electric or hybrid vehicles and solar panels, and gives OnPoint employees access to telecommuting programs, volunteer opportunities and environmental education.