Credit unions across the country are regularly finding ways to come together and honor veterans in their communities. This Veteran's Day, Credit Union Journal is showcasing some of the many ways the industry has come together to honor current and former members of the armed forces.
Having a picnic
Riverside, Calif.-based Altura Credit Union recently celebrated its 46th Annual Military Appreciation Picnic with 5,000 military personnel and their families.
Berger gives back
In advance of the holiday, Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, partnered with Habitat for Humanity to help build a home for a wounded veteran and his family. Berger, pictured above second from left, was interviewed with the family on "Great Day Washington."
A $10,000 contribution was issued by Albuquerque, N.M..-based Kirtland Federal Credit Union for the renovation of a B-47E Stratojet military plane. The plane will be on permanent display at the National Museum of Nuclear Science and History.
Hanscom Federal Credit Union sponsored Home Base’s Mission: Gratitude, a benefit gala raising millions of dollars for veterans, service members and their families. The Hanscom AFB, Mass.-based CU has donated over $500,000 within the last five years to support Home Base’s mission.
Joliet, Ill.-based NuMark Credit Union has rolled out a new account type specifically for military personnel that will include free mortgage appraisals, one free box of checks each year, free money orders and cashier’s checks and a 0.25% APR discount on auto and personal loans.
San Diego County Credit Union is thanking troops by sending 25,000 thank you letters in its "A Million Thanks" mission. Partnering with a local radio station, the CU is inviting anyone to stop by one of its 43 branches to craft handwritten letters.
McLean, Va.-based PenFed CU donated 50,000 to Canine Companions for Independence, a program that assists veterans coping with post-traumatic stress disorder.
Albuquerque, N.M..-based Kirtland Federal Credit Union supported veterans by donating $20,000 to the CNM Veteran Resource Center. The money will be allocated toward Veteran Emergency Scholarships, Veteran Food Pantry, and a new curriculum geared toward education veterans about navigating the GI bill.
Social responsibility recognition
Fort Knox Federal Credit Union, based in Radcliff, Ky., is the recipient of the 2018 Louise Herring Philosophy in Action Member Service Award and the Dora Maxwell Social Responsibility Community Service Area within the $1 billion plus asset category.
The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.
A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.
Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.