WINDSOR LOCKS, Conn.–360 Federal Credit Union said it has met its Community Savings Challenge goal of saving members $250,000 in loan interest.
The Community Savings Challenge was designed to lower the CU’s members financing cost, thereby putting money back in their pockets, the CU stated.
One feature of the challenge was that once the savings goal was achieved, 360FCU pledged donations totaling $6,000 to three local charities.
The community was tasked with voting for the charities they wanted to receive the donations from a link on the credit union’s website. First place was awarded to Junior Achievement for $3,000. Second place, Foodshare, for $2,000, and Rebuilding Together for $1,000.
"We are very excited about reaching our goal in four short months and thrilled for our members that benefited from the Community Savings Challenge.” said Pamela Mallory, lending manager.
The Community Savings challenge kicked off on Monday, Aug. 3 and was completed Nov. 17.