PLYMOUTH, Mich. — Community Financial Credit Union, which was recently named one of America’s Best Credit Unions by Forbes, has announced “significant milestones” achieved during the second quarter that it said reflect “remarkable growth and impact.”
Among those milestone:
- The credit union welcomed Heidi Musser, an accomplished board advisor and digital transformation leader, and Ron Meteyer, a former educator at Northville Public Schools, to its board of directors. “These new members were selected for their exceptional dedication to fostering innovation and building a brighter future for our community.”
- Community Financial was verified as a Great Place to Work, achieving high scores in employee satisfaction and organizational trust. This certification underscores the institution’s efforts to foster a positive workplace environment that enhances employee experiences and satisfaction.
“With the closing of the quarter, I have the pleasure of seeing just how much progress our Community Financial team has made as we walk with Michiganders through life’s seasons. Our newest checking account, CloseEnuff, has garnered more than $1.3 million in new checking deposits since April 1, which is a testament to using listening as a super power to better meet member needs,” said President and CEO Tansley Stearns, in a statement. Stearns is also a board member of the Relentless Care Foundation. “I am continually inspired by our members’ stories, and I’m in awe of our team’s ability to develop tangible solutions that empower our members.”
The CU said the second quarter also brought Community Financial’s partnership with Debbie, an innovative savings program offering extra cash rewards to members for achieving financial milestones. Hundreds of members enrolled in just two days and have already reduced their debt by an average of $78 per member, according to CFCU.
“These announcements come on the heels of the credit union’s recent strides in gender equity and housing attainability,” CFCU said. “In the second quarter, Community Financial launched its Choose the Bear initiative in collaboration with project partners. Within its first two weeks, the initiative facilitated an average loan balance for members of $3,382, making significant progress in alleviating the financial cost of economic abuse for participants.
“Similarly, in just three months, CloseEnuff, designed to empower women and alleviate critical financial hardship caused by gender inequity, has collectively saved members a quarter of a million dollars,” CFCU added.
The second quarter also marked the launch of Community Financial’s Relentless Care Foundation’s largest initiative to date: Roof the Block, which will be featured on HGTV’s Bargain Block this fall. This collaborative effort further stabilizes an already vibrant neighborhood and ensures housing security today and for future generational wealth transfer.