Brandon Richardson’s Post

Here’s a team that truly embodies the credit union philosophy of "People Helping People." I spent the day with Julia G. and her leadership team earlier this week for their mid-year marketing review, and what an impressive list of achievements they've racked up in just six months! First, they launched a credit builder loan product aimed at helping members improve/build their credit - a fantastic initiative as consumers become more aware of the importance of credit, credit scores and lack of credit history. They also announced their new Vocational Scholarship program, aimed specifically at students who attend a vocational or trade school. And because this credit union avoids the “that’s the way we’ve always done it” mentality, they transformed their Annual Community Day into a Member Appreciation Month, packed with amazing weekly events like free shred services (they shredded over 5,000 pounds of paper!), financial checkups for members, a young member appreciation day, a live radio remote, a coloring contest, and participation in a car show event that attracted new interest in the credit union. I am so proud to collaborate with credit unions that consistently strive to make significant, positive impacts in their communities every day. This credit union is making a difference in the lives of so many people! #SmallButMighty #PeopleHelpingPeople #CreditUnions #CreditUnionDifference #MarketingSolutionsUnlimited #LoveWhatYouDo

Introducing our Leading Business of the Week: 𝙎𝙤𝙪𝙩𝙝𝙚𝙖𝙨𝙩𝙚𝙧𝙣 𝘾𝙧𝙚𝙙𝙞𝙩 𝙐𝙣𝙞𝙤𝙣! 🌟 Founded in 1953 as Moody Air Force Base Federal Credit Union, they have been dedicated to serving our community ever since. From humble beginnings to now eight branches serving over 26,000 members, their commitment to providing top-notch financial products and services remains unwavering. Joining is simple — if you live or work in any of their fourteen counties, you're eligible! Plus, membership isn't just for individuals; businesses and legal entities in our area can join too. #DidYouKnow: A credit union is a unique type of financial institution that operates as a not-for-profit organization. Unlike banks, which focus primarily on generating profits for shareholders, credit unions prioritize the needs of their members. When individuals open an account at a credit union, they become member-owners, entitling them to a share of the institution. Website: https://ow.ly/ufkH50QW2aq #SoutheasternCreditUnion #CommunityBanking #LocalFinance #MemberFocused

Credit unions are invaluable to their communities and are presented with new opportunities daily. So, why compete when you can collaborate? Chad Miller, President and CEO of Southwest Louisiana Credit Union, explores the importance of competition with a collaborative twist in the latest edition of the #FinottaFinfluencers. The competitive landscape for credit unions is evolving rapidly, but so are the opportunities. Learn why focusing on community impact and innovation is the winning strategy for credit unions in today's market. #CreditUnions #FinancialInstitutions #CommunityImpact #Finotta

This October, we celebrate the incredible impact that credit unions have on our communities and the economy! 🌟 Credit unions aren't just financial institutions—they are member-owned, community-focused organizations that prioritize people over profit. Credit unions are driven by a mission to serve their members, helping individuals and businesses thrive with affordable financial services, personal care, and a commitment to financial literacy. 💡💰 Some of the reasons we ❤️ credit unions: 👉 Member-Owned: Credit unions empower members with a voice and offer better rates and lower fees. 👉 Community Impact: These institutions reinvest in local economies, creating a cycle of growth and opportunity for small businesses and individuals alike. 👉 Financial Education: Credit unions go the extra mile in educating their members on financial management, fostering smarter, healthier financial futures. As we recognize the value credit unions bring to the table, let’s continue to support these pillars of our communities and spread the word about the benefits of being a member! 🏦❤️ Thank you to all the credit union professionals and members who make this industry so special. Here's to a month of celebrating your commitment to financial empowerment, local communities, and the spirit of cooperation. 🙌 #NationalCreditUnionMonth #CreditUnionLove #PeopleHelpingPeople #CommunityFinance #FinancialEmpowerment #TalentForward

District-57 ABMs met this week to discuss empathy and it's connection to credit union philosophy. We walked in the shoes of many of our members and fellow employees through an interactive simulation on what it's like to live near poverty level or at or slightly above ALICE and all the tough decisions faced. We then discussed the iconic "Umbrella Man" created by Boston Globe artist, Joseph Stern in 1923. Today, we face all the same challenges of the 20s and more! The Umbrella Man of the 1920s depicts how credit unions protected members from hard times, sickness, and financial distress. Our AMBs, Leslie Raynor, Lezlie Mull, Bryan Kornemann, and Stephanie Spencer identified and discussed how SECU protects our members from today's issues: scams, fraud, inaccurate financial information circulating on social media, and inflation. At SECU, like all credit unions, we are focused on protecting our members by strengthening their financial aptitude by listening to our members' stories, challenges, and dreams and setting them on the path to fulfillment through education, financial counseling, and financial planning services. If you would like an SECU employee to assist with any sort of financial literacy programming or discussion, please reach out to your local branch. #weareSECU and #weareheretohelp #teamSECU #financialliteracy #empathy #walkinsomeoneelsesshoes #spent

Capital Savings Bank was the first African American-owned bank in the US. It opened in DC on October 17, 1888, to provide credit and capital to Black business interests within the Black community. Capital was one of 134 Black-owned and operated banks established (1888-1917). Since white-owned financial institutions were unwilling to offer credit or capital to African American businesses, African American Churches, mutual aid, and fraternal organizations stepped in to serve as “pooling places for capital” and the backbone of African American communities. The churches used real estate, buildings, and Sunday offerings to grow wealth for their ministries, such as schools. They soon invested capital in African American banks, insurance companies, newspapers, and other business enterprises to serve the needs of Black communities and create a thriving economy. Between 1867 and 1917, African American businesses increased from 4,000 to 50,000. Although the Savings Bank of the Grand Fountain United Order of True Reformers is referred to as the first Black-owned and operated bank, Capital Savings Bank takes the “first to open” spot. True Reformers was certified in March 1888 but didn’t open for business until 1889. Capital Savings stimulated the creation and expansion of Black entrepreneurship and enterprise in DC, by providing capital for grocery stores, bakeries, cleaning establishments, catering businesses, and other establishments in Black communities. Within four years, Capital deposits reached $300,000. Such confidence in the community resulted in the bank positively impacting the local African American economy. That support made the bank strong enough to ride out the Panic of 1893 and remained strong until its closing in 1902. #africanhistory365 #africanexcellence

Have you ever wondered what a Community Banker really does? In the latest #MoneyandMoreblog, hear from our very own Amanda Fosdick as she walks you through a day in her life as a #TeamOMB Community Banker! Click here to read: https://bit.ly/3WNs24f #FinancialLiteracy #CommunityBanking #BecauseWeLiveHereToo

"A much-needed website refresh" is an understatement. If you're curious to see what I do at 38th & Kip Studio, this new case study is great example of the transformative results of data-backed brand strategy and web design. And if you are concerned for even a second that your site is: ❌ A poor reflection of your value and services ❌ Outdated (three to five years old is the standard for a site refresh) ❌ Functionally limited ❌ Doesn't speak to your customers and their needs... ...reach out to me and let's chat for a zero-salesy conversation about your needs. https://lnkd.in/eKU6Q6X7

I'm pleased to see (and be quoted in) this Bloomberg Law coverage of the Federal Deposit Insurance Corporation (FDIC)'s decision to require the submission of additional information in credit union purchases of FDIC-insured banks to evaluate the convenience and needs statutory factor because credit unions are not subject to Community Reinvestment Act. I feel confident in saying that without ICBA's repeated ringing of the alarm bell, these deals would not be receiving the modestly increased scrutiny that they are today. There is still a long way to go -- it is past time to expand the CRA to apply to credit unions and to hold Congressional hearings to examine whether the credit union tax exemption is justified by their business model which appears virtually indistinguishable from taxpaying commercial banks. The NCUA should also limit the ability of credit unions to issue subordinated debt to raise hundreds of millions of dollars to fund these purchases, as I argue here: https://lnkd.in/g4XCxgR8. Another gem from this article -- an attorney who represents credit unions in these transactions describes the pace of credit union acquisitions of banks as "outrageous." When even advocates of the credit union industry are stunned by how acquisitive they have become, it demonstrates that they have truly lost sight of their mission of serving people of modest means united by a common bond.

Have you ever wondered what makes a Credit Union different from a Bank? Benefits of Credit Unions: ✔Member-Owned: Credit unions are not-for-profit and owned by their members, which means they focus on serving you, not shareholders. ✔Better Rates: Enjoy higher interest rates on savings accounts and lower interest rates on loans and credit cards. ✔Lower Fees: Typically, credit unions have fewer and lower fees compared to traditional banks. ✔Personalized Service: Known for excellent customer service and a community-focused approach, you’ll often get more personalized attention. ✔Community Focus: Credit unions often invest back into the community, supporting local events and initiatives. ✔Financial Education: Many credit unions provide resources and programs to help members manage their finances better. Visit Telhio.org and become a member today!