SEATTLE — Express CU is expanding into the underserved market with the help of 16 area non-profits groups that will provide their clients with on-site financial services through the CU.
The program, which represents a whole new direction for the $9-million, 70-year-old institution, combines a credit union with a nonprofit arm and community outreach. The organization's new non-profit arm, Express Advantage, can receive foundation money and make grants for financial education, credit counseling and case management.
Under the program, Express will maintain regular hours at the non-profits, which includes YWCA, Catholic Community Services, Hopelink, Solid Ground, and Neighborhood House. Clients of the non-profits will be able to open accounts, deposit paychecks and apply for small loans, but the quasi-branches won't handle cash. The clients instead will go to the credit union's main office and a network of ATMs and/or BECU branches to get cash.
