The foundation of the credit union movement is built on prioritizing Main Street over Wall Street, and many cooperatives are developing creating ways to champion local businesses.
Here’s a look at how credits unions are making business members’ dreams come true.
A Multi-Sector Collaboration Takes Shape In St. Louis
St. Louis Community Credit Union ($433.6M, St. Louis, MO) is expanding affordable business lending thanks to a multi-sector partnership with some of the biggest employers in the community.
The three anchor institutions — BJC Health System, SSM Health, and the James S. McDonnell Foundation — are supplying nearly $15 million in low-cost deposits to SLCCU’s Community Impact Deposit program, boosting access to working capital, equipment, and real estate loans for underrepresented businesses.
Since its launch in 2022, the program has attracted more than $30 million in new deposits across private, public, and philanthropic entities. In turn, the credit union has used this money to fund a portion of the more than $40 million in business loans it issued during the same period.
The Missouri cooperative is a CDFI in addition to being a Black-owned Minority Depository Institution (MDI), and a full 90% of all business loans issued during this period have assisted Black-owned businesses.
In-Branch Kiosks Provide Valuable Visibility
City & County Credit Union ($1.2B, St. Paul, MN) has long used its branch locations as more than just transactional spaces. For more than a decade, several of its branches have sponsored a “Business of the Month” kiosk program that invites local businesses and nonprofits to display their offerings, interact with members, and build community awareness.
The program operates with careful structure: Participating businesses must include a call to action, such as QR codes or drawings, and meet weekly check-in standards for their display and engagement. Although the credit union doesn’t formally track ROI for the kiosk effort, leadership says the program has helped raise its brand awareness, sharpen its small-business product focus, and deepen its ties to the local entrepreneurial ecosystem.
Learn how the in-branch business kiosk reinforces a commitment to community prosperity in “Small Business Meets Big Community At City & County Credit Union.”
Support For Reno Entrepreneurs And Innovation
Greater Nevada Credit Union ($1.7B, Carson City, NV) will maintain its top-level sponsorship for Nevada’s Center for Entrepreneurship and Technology (NCET) in 2026 while also sponsoring NCET’s Innovation Summit during Reno Startup Week.
As a nonprofit organization, the NCET relies on this partnership and others to continue offering programs, events, and networking opportunities for the Reno business community. The Innovation Leader sponsorship level is only available to two entities each year.
John Ahdunko, senior vice president of member success, says the cooperative is proud to be a part of a partnership that supports entrepreneurs and technological innovation.
“This collaboration aligns with our passion to help more Nevadans live greater by fostering innovation and local business growth,” he told Nevada Business magazine in August.
More Grant Programs. More Grant Money.
It’s difficult to overstate the impact of grant money on small businesses and startups. The support not only reduces the pressure of debt and the risk of failure but also enables job creation, contributing to the overall health of the local economy.
InRoads Credit Union’s ($333.2M, St. Helens, OR) small business grant program launched this fall gives local entrepreneurs the chance to apply for one of 11 grants ranging from $1,000 to $5,000. The credit union will award $25,000 in total funding. Applicants must have been in business in Columbia County for at least one year and generate an annual gross income of less than $1 million.
To further its commitment to local entrepreneurs, InRoads also waived all small business loan origination fees from Sept. 15 through Nov. 15 across its entire field of membership.
Meanwhile, Verity Credit Union ($769.3M, Seattle, WA) is expanding its popular micro grant program to include both nonprofits and microbusinesses.
In a press release, CEO Tonita Webb says the goal of Grants For Growth is to empower local businesses and nonprofits to grow in a way that honors their values and strengthens the region.
“Through this initiative, we seek to give business owners and nonprofit leaders support, building confidence and camaraderie,” she says.
The microbusiness grant ranges from $7,000 to $10,000 in flexible funding and relationship support for businesses with less than $1 million in revenue and fewer than 10 employees. Eligible applicants include BIPOC-,LGBTQ+-, and veteran-owned businesses that have been operating for less than five years.
The nonprofit grant offers up to $5,000 in funding and support for grassroots 501(c)(3) organizations with assets less than $250,000 that serve historically marginalized groups. Applicants should focus on advancing social justice, environmental justice, equity, or financial wellness.
Your Next Great Idea Is A Roundtable Away. Credit unions are responding to the evolving needs of members with a variety of products and services. Callahan Roundtables put leaders in the same room to share solutions, solicit feedback, pose questions, and more. Learn more about Callahan Roundtables.