Cornerstone announces community service award winners

Hearty congratulations go out to the Cornerstone-member credit unions who have won regionally for this year’s CUNA community service awards. Please join us in celebrating the outstanding accomplishments of the following credit unions, who will go on to compete at the national level.

Desjardins Youth and Adult Financial Education Award

The Desjardins program recognizes leadership in financial literacy for all ages and considers activities supporting the personal finance education of members and non-members.

And the winners are:

Arbuckle Federal Credit Union, Ada, Okla.
Category: Less than $50 million in assets
Project: Credit Reports and Budgeting for Teenagers
Overview: In 2021, Arbuckle FCU taught in-person at 11 high schools for about 1,280 students using a reality fair-type program to teach about budgeting, credit reports, borrowing, co-borrowing, gambling, bankruptcy, collections, retirement, saving, the credit union difference, and other financial literacy topics. Through examples, students learn about vehicle loans, unsecured loans, and home loans, as well as how credit scores affect the interest rate and amount they will pay on big-ticket items. Credit reports are a primary, in-depth focus. Volunteers, which include military personnel, CU board members, business owners, and insurance agents, travel with staff to share their stories with the students.

Tinker Federal Credit Union, Tinker AFB, Okla.
Category: More than $1 billion in assets
Project: Family Awareness and Community Teamwork (FACT) Program: OKC Police Department and TFCU Financial Education
Overview: TFCU partnered with the Family Awareness and Community Teamwork  gang prevention program of the Oklahoma City Police Department to provide financial education to at-risk youth. Together, TFCU and FACT implemented a four-part financial series for youths ages 13–17 over a two-month period. The mission helps youth learn the importance of good money management skills through in-person workshops. Students learned how to create a budget, make decisions about needs and wants, and understand the impact of their decisions on the ability to live the life they want.

Louise Herring Philosophy-in-Action Member Service Award

The Louise Herring award is given to a credit union for its practical application of credit union philosophy within the actual operation of the credit union. It is awarded for internal programs and services that benefit membership.

And the winners are:

First Central Credit Union, Waco, Texas
Category: $50 million to $250 million in assets
Project: Opening Doors to Home Ownership
Overview: First Central Credit Union’s “Open Door Mortgage” product targets first-time homebuyers or those with limited down payment options. An Open Door Mortgage can loan up to 95% of the appraised home value. Buyers are not required to purchase private mortgage insurance, allowing more of the payment to reduce principal balance vs. insurance premiums. Members enjoy low closing costs, no points, and low origination fees. Both primary residence (first lien owner-occupied) mortgage purchases and refinances are eligible for the Open Door Mortgage.

Tinker Federal Credit Union, Tinker AFB, Okla.
Category: More than $1 billion in assets
Project: TFCU Great Member Giveback
Overview: As an institution that values Louise Herring’s “people helping people” philosophy, TFCU uses the Great Member Give Back Program as a literal way to “give back” to its members. Members are automatically entered for a chance to win back money they spent by using TFCU accounts and services. This program has allowed countless members to keep a little extra money in their pockets.

Dora Maxwell Social Responsibility Community Service Award

The Dora Maxwell Social Responsibility Community Service Award recognizes a credit union or chapter/multiple credit union group for its social responsibility and charitable project's that support its community.

And the winner is:

Access Community Credit Union, Amarillo, Texas
Category: $50 million to $250 million in assets
Project: Dora Maxwell Project
Overview: In 2019, Access formed the Community First Committee, consisting of elected staff members. The credit union pledged a percentage of its earnings to a special fund, which the committee distributes to the community through donations, volunteering, and funding programs. Since its inception, the credit union has allocated nearly $400,000 back to the community and touched the lives of individual families, underprivileged communities and children, and dozens of local nonprofits.

The winners are now elevated to judging on a national level with other credit unions across the country. Cornerstone League will present our regional winners at the IMPACT 2023: Annual Meeting.