Going the Extra Mile: The Defense Credit Union Difference in Times of Crisis – Part 3
This week I have been highlighting how our Defense Credit Union members have supported their military communities as well as used their experience in handling emergency situations to better support their members during the COVID-19 crisis. Today, I want to discuss the ways in which they have served their larger memberships and communities. While all our members serve the military in some capacity, most also have a civilian population as part of their field of membership. I am proud that our credit unions have stepped up to serve ALL their members, whether they are in uniform or not.
ADDITIONAL COMMUNITY SUPPORT: In terms of rising to the occasion, defense credit unions continue to pitch in to help their communities beyond credit union operations and member service. They are volunteering in local relief efforts, restocking food pantries, and donating to charities who had to cancel their fundraising events. For example, one defense credit union matched $4M in donations while distributing $1M to non-profit service organizations within the counties where they have branches. They are not alone. Additional community support has multiplied in communities across the nation where defense credit unions are located.
CONTINUED EMPHASIS ON FINANCIAL READINESS EDUCATION: April was National Financial Literacy Month in the United States. Traditionally, there are many activities and in-person programs offered to highlight the importance of financial literacy and to teach Americans how to establish and maintain healthy financial habits. Unfortunately, stay-at-home orders precluded these important events from happening. Yet, if there ever was a time to demonstrate the importance of budgeting, building and using an emergency savings account, or financially preparing for future contingencies—this pandemic is THE time to hammer home these important points.
Thus, many defense credit unions found innovative ways to continue this important education for their members. In addition, since most children cannot attend school, parents are having to find activities to keep these children engaged. Many defense credit unions are offering a variety of programs while maintaining social distancing. One defense credit union offers a “Virtual Storytime” on their Facebook page each week. Another provides a “Budgeting Buddies” curriculum and allows parents to download a “MoneyWise” workbook filled with learning activities while partnering with a professional sports team to deliver effective messages. One more offers “Virtual Scavenger Hunts” and membership in the “Dollar Dog Kid’s Club”.
As I have discussed all week, there are many examples of defense credit unions using their resources to help in positive ways. Whether it’s enacting distancing protocols quickly and effectively to continue important services on and off base, adapting already prepared emergency policies to serve a country facing an economic crisis, or continuing to reach and support their communities in a time of need, defense credit unions are ready and willing to serve. We are not-for profit, member-owned, and community focused. Because in the end, it’s not about money; it’s about life, family and community--something we’re all a part of. That’s why we do what we do—and that is the defense credit union difference!