Credit Union Donates Over $13,000 and 220 Work Hours to Community Non-Profits
October 20, 2014
St. Louis, MO - Credit unions are member owned not-for-profit financial institutions that were created by groups of like-minded people pooling their resources together.� Because they do not earn profits for shareholders like banks, credit unions are able to pass their earnings on in the form of higher returns on deposit accounts and smaller interest rates for loans.� By helping people improve their lives through access to affordable financial services and educational programs, credit unions create a strong foundation for improving their community.�
Since 1948, credit unions around the world have raised awareness for the credit union movement on International Credit Union Day.� This years theme is "Local Service, Global Good" which showcases the vital role credit unions play in the economic development and stability of the communities they serve.� The actions and initiatives of local credit unions help shape local policies which can in turn solve global problems.� Credit unions constantly work to fix these issues because they are service oriented.���
For 2014, 1st Financial Federal Credit Union focused on serving the St. Louis area in a greater capacity.� In February, 1st Financial launched the Helping People 1st Grant program.� Each month, 1st Financial employees were able to highlight a non-profit in the area making a difference in housing, financial literacy, job training, or education.�
The employees spent their month promoting the non-profit, raise funds for a donation at the end of the month, and volunteer during work hours to help out at the non-profit.� As of October 10th, 1st Financial employees have raised $13,223.11 and donated over 220 work hours to Gateway 180- Homelessness Reversed, O.A.S.I.S. Food Pantry, P.A.K.T. Community Center, Habitat for Humanity of St. Charles County, North Grand Neighborhood Services, Willows Way, KidSmart-Tools for Learning, and Connections to Success.
Also in 2014, 1st Financial formed a partnership with the St. Louis City Treasurers Office and the St. Louis Agency on Training and Employment (S.L.A.T.E.).� 1st Financial served as a financial partner for the young adults employed by the City of St. Louis as a part of S.L.A.T.E.s Summer Youth Employment and Financial Capability Program.� 1st Financial employees volunteered to teach financial literacy programs and open up checking accounts specifically designed to eliminate overdraft fees and combat financial threats to the under-banked population of St. Louis for all S.L.A.T.E. attendees.
By continuing the S.L.A.T.E. partnership and creating new programs such as the Helping People 1st Grant, 1st Financial actively works to improve the lives of the people who live and work in the St. Louis area.� Please join 1st Financial Federal Credit Union in celebrating International Credit Union Day on Thursday, October 16th and find out why credit unions truly are the better way to bank.
About 1st Financial Federal Credit Union
Like all credit unions, 1st Financial is a member-owned, financial cooperative. 1st Financial Federal Credit Union was chartered on September 3, 1968 as District 837 Credit Union by the International Association of Machinist members employed by McDonnell Douglas. Today, with over 30,000 members and nearly $200 million in assets, 1st Financial is a St. Louis metro area financial institution dedicated to helping members achieve their financial dreams. For over 45 years 1st Financial has provided members with a full line of dependable financial products and services which returns profits to the members in the form of lower rates on loans and higher savings yields. The cooperative nature of credit unions enables 1st Financial to provide products and services at very reasonable rates.
1st Financial Federal Credit Union serves those who live, work, worship, attend school, or regularly conduct business in St. Louis City, St. Louis County, and St. Charles County, Missouri and a wide array of companies throughout the St. Louis metropolitan area. 1st Financial is a member-owned, not-for-profit financial organization committed to providing quality services to the membership while demonstrating safe and sound business practices. Deposits are federally insured by the National Credit Union Administration (NCUA), an agency of the U.S. Government.
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