Deepening Relationships and Supporting Our Community Through New Opportunities
Shelton, WA, November 14, 2024 - Our Community Credit Union’s mission is to develop lifelong relationships by empowering our members, employees, and communities with personalized service to live their best financial lives.
When we delve deeper into supporting this mission, it becomes clear that it takes a collective effort to foster trust and pool resources. This collaboration creates an environment where members can not only thrive financially but also enjoy a safe and supportive community.
OURCU teams actively engage in local events and causes, volunteer their personal time to serve others, and listen attentively to the needs of members and communities in every interaction. By being present and attentive, the credit union can better understand local area needs and provide support wherever possible.
In August of 2024, OURCU was approached by partners at the Federal Home Loan Bank (FHLB) of Des Moines, Iowa with an opportunity to elevate our existing community support through their Member Impact Fund program.
This matching grant program, which was introduced in 2023, will provide nearly $12 million to eligible Washington organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district. The Member Impact Fund provides $3 for every $1 of an eligible FHLB Des Moines member's grant donation to strengthen the ability of not-for-profits or government entities to serve the affordable housing or community development needs of their communities. The Member Impact Fund awards are given in partnership with member financial institutions to communities in their districts to become more vibrant places to live and work.
Upon hearing of this unique opportunity to further support local needs, OURCU teams jumped into action, reviewing existing commitments of support that met the FHLB qualifications and timelines, ensuring that all aspects of the application process were completed quickly for the organizations that qualified.
In the end, OURCU was able to submit seven applications that consisted of a mix of local non-profits and local law enforcement agencies in Mason and Grays Harbor counties and are proud to announce that all seven applications were approved and funded by the FHLB. Between the Credit Union’s commitment and the FHLB match back funds, the total dollars vested back into the community sings to the tune of $1,039,200 in combined funds.
Grant program supports affordable housing and community development.
“Due to the efforts of OURCU’s CFO, Reid Miller and Business Development Officer, Shannon Henry, the credit union eagerly seized the opportunity to enhance our commitment to supporting local organizations by applying for the Member Impact Fund program. By recognizing and acting on this opportunity, OURCU and FHLB were able to quadruple the overall impact for these organizations, compared to our existing commitments of support.” ”
Organizations/agencies that met the qualifications and timeline for funding:
Community is in the Credit Union name, and OURCU proudly collaborates with organizations like the Federal Home Loan Bank to amplify our local impact. This partnership not only bolsters our members' financial well-being but also helps create safe and healthy environments where everyone can thrive.
