Perhaps you’ve heard the saying, “Put your money where your mouth is?” It means make your deeds match your words.
I’ve bragged about our commitment to serve the entire membership, regardless of economic status. Our marketing consistently promises we’ll live up to the cooperative principles that celebrate member ownership, democratic control and equal treatment for all.
After all, we know we’re not a run-of-the-mill financial institution. We want to be sure you know this, too. It’s especially nice when others in our industry recognize your Credit Union for its actions and deeds. In this instance, LGFCU was recently designated a Community Development Financial Institution (CDFI).
A CDFI is a financial institution that has shown a true commitment to serving all members, especially folks in low-income communities. The designation is made available after an exhaustive application process. It includes an examination of an institution’s policies, practices and performance.
The reason this designation is so important is that some financial institutions have shunned consumers who lacked financial wealth. These underserved communities were often abandoned or subjected to predatory practices. A CDFI operates above this kind of behavior.
LGFCU sees the CDFI designation as a badge of honor. We buck the notion consumers in underserved communities deserve less than affordable financial services. We reject the idea only high wealth individuals should have access to first-rate, quality financial education. Your Credit Union believes all members should be offered the opportunity to be financially successful.
You’d think your Credit Union had to jump through lots of hoops to receive this acknowledgment. It turns out we received the accolades for doing what we’ve always done: serve you with equality and dignity. This is the Credit Union way.
Here’s another saying: “Follow the money.” If you want to get a sense of an institution’s values, see where it invests its money.
At LGFCU, we invest in you.