Beyond banking: how credit unions are transforming communities through philanthropy and service

Imagine 27 credit unions uniting to combat hunger across an entire state. That's exactly what's happening in New Jersey with the launch of the New Jersey Credit Unions Food Cooperative. This unprecedented collaboration is addressing rising food insecurity affecting thousands, exemplifying how cooperative efforts can create a significant community impact.

Credit unions recognize that health and financial well-being are deeply interconnected; financial stress can lead to health issues, and poor health can hinder one's ability to work, causing further financial strain. By addressing this, credit unions are actively working to improve both the financial and physical health of their members. Through initiatives that promote economic security and partnerships focused on wellness, these member-owned cooperatives are alleviating stress-related health problems, strengthening communities, and helping individuals achieve a more secure and healthy future.

Combating hunger and food insecurity

Led by First Harvest Credit Union, Affinity Federal Credit Union, and EdiFi Credit Union, the New Jersey Credit Unions Food Cooperative serves as a network of collection sites for non-perishable food items, directly supporting local food pantries.

In October and November, the project collected and donated a collective $10,670 and 10,299 pounds of essential food items to support 47 food pantries and organizations throughout the state.

"Credit unions have an inherent mission... to help those who are underserved or in need," said Mike Dinneen, president & CEO of First Harvest Credit Union.

Similarly, PenAir Credit Union in Pensacola, Fla., launched its second annual Snack Stock initiative in October, collecting snacks for cancer patients at Ascension Sacred Heart Cancer Centers. Community members are encouraged to donate individually wrapped snacks throughout October, providing comfort to patients and their families during treatments.

Children battling serious medical issues

One of the most heartfelt initiatives comes from Chartway Credit Union and its charitable arm, the Chartway Promise Foundation. During Childhood Cancer Awareness Month, they orchestrated events to bring joy to children battling serious illnesses. Five-year-old Karlysle, fighting acute lymphoblastic leukemia, was surprised on the football field at Old Dominion University with the news that his dream of visiting Disney World would come true. Similarly, nine-year-old Zoe, recovering from kidney cancer, learned that she and her family would also be heading to Disney World.

"Seeing Karlysle's joy today and knowing that we'll soon make these special memories together means the world to us," said his mother, Christina Sitler.

By partnering with organizations like Toby's Dream Foundation and Make-A-Wish, the Chartway Promise Foundation raised $300,000 in September alone, contributing to the nearly $15 million granted since 2005. These funds create unforgettable experiences for medically fragile children, providing emotional support that complements their medical treatments.

Promoting affordable housing

In Austin, Texas, where housing costs are soaring, a coalition of credit unions is helping to make homeownership attainable for families in need. The House that Credit Unions Built, initiated by University Federal Credit Union (UFCU) and involving several local credit unions, collaborates with Austin Habitat for Humanity to construct affordable homes. Over four years, they've raised over $300,000, built four homes, and engaged over 1,000 employee volunteers.

"A home brings hope," said Chris Turnley, executive vice president of member experience at UFCU. "It allows people to create generational financial security."

Advancing financial education and well-being

The Iowa Credit Union Foundation (ICUF) is making strides in financial literacy and inclusion. During their annual fundraiser, ICUF raised over $101,000 to support programs like the People Helping People Financial Coach Program and the Warren A. Morrow Memorial Scholarship. They also launched a Financial Inclusion Grant Program to address barriers faced by minority populations.

"The funds raised will increase the financial well-being of Iowans across our state," said Ena Babic Barnes, executive director of ICUF.

America's Credit Unions' Financial Counseling Certification Program (FiCEP) provides credit union employees with the skills and knowledge required to guide their members and themselves to sound financial decisions. FiCEP eSchool runs January 9 through March 21, with recordings available for use through December 31, 2025.

Fostering community through volunteerism

Credit unions recognize the power of hands-on involvement. Indiana-based Everwise Credit Union hosted its annual Day of Giving, where nearly 650 employees volunteered at 45 nonprofit locations, reflecting a strong culture of service. Similarly, Michigan-based Lake Trust Credit Union held its Powered by Good Day, with team members volunteering at 28 nonprofit organizations and donating $41,400.

"Events like Powered by Good Day are a shining example of how we live our mission to support financial wellbeing," said David Snodgrass, president of Lake Trust.

Uniquely positioned to serve and empower communities

These stories highlight more than just philanthropic efforts—they showcase the unique role credit unions play in their communities. Unlike traditional financial institutions, credit unions are guided by a charter that emphasizes service over profit. This fundamental difference empowers them to reach out to populations that are often overlooked or underserved.

By deeply embedding themselves in the communities they serve, credit unions can identify specific needs and mobilize resources quickly and effectively. Their not-for-profit status allows them to prioritize initiatives that foster financial well-being, support vulnerable groups, and address critical social issues. Whether it's combating hunger, supporting seriously ill children, promoting affordable housing, or enhancing financial literacy, credit unions have the flexibility and commitment to make a meaningful impact.