CDFI grant funding has helped Innovations Financial Federal Credit Union ($651.9M, Panama City Beach, FL) expand access to capital for small businesses in and around the Florida Panhandle.

A pre-COVID grant helped the credit union launch a microlending program that provides up to $50,000 to small businesses in its market and continues to make a difference in the region.

The Problem

The bank landscape in Florida has substantially shrunk since the Great Recession. Many small and mid-size local banks have closed their doors or merged with larger entities, leaving a void in the commercial lending space.

Hurricane Michael in 2018 exacerbated the problem when it decimated the Panama City area and dealt a death blow to local businesses across the region.

The Solution

With CDFI grant funding, Innovations Financial implemented a microlending program for small businesses and entrepreneurs starting new businesses. The credit union made up to $25,000 in unsecured funds available and up to $50,000 available for loans secured by homes, equipment, or real estate. Both loans were available to borrowers with a minimum 650 credit score and business plan proforma or documented LLC.

“None of these are loans you would make under traditional financing,” says David Powell, chief operating officer. “Because of the small dollar amount, it truly is the mom and pop shops. It’s the guy working at a company and doing a side gig who wants go out and do his own thing. It’s the husband and wife who want to start a side gig.”

The credit union can offer a term loan or a line of credit for the $25,000 option as long as borrowers meet the minimum 650 credit score and other stipulations. It prices those loans between 10.5% and 14.5%. The collateral-secured loans it prices at market rate.

Loan applications have been evenly split between new and existing members, and some applicants have told loan officers they were referred by their bank because the institution couldn’t make the loan.

The Results

Although the national economic picture has been rocky, Powell says Florida’s economy behaves somewhat differently because of the heavy influence of tourism and the military.

“If you boil it down to the Panhandle, we’re even more insulated than the rest of the state,” the COO says. “Then boil it down to Bay County and the surrounding counties, and we’re even further insulated.”

According to Powell, steady economic growth in the past decade spurred on by people and businesses moving into the region has helped fuel the microlending program. The credit union has made more than $8 million in microloans since 2018, and with a default rate of just 6%, the program has been “wildly successful.”

“There’s hardly anyplace small businesses can go to get money to start up, so we were absolutely fulfilling that need in all the areas we serve,” Powell says.

A partnership with the Small Business Development Center, offered through the University of West Florida, has helped drive applications. Many startups and small businesses work with the center on business planning, and the center frequently refers those entrepreneurs to the credit union.

And even when some borrowers have gone out of business, they’ve continued to pay back the credit union, says Powell.

“It’s been pleasantly surprising to see the level of commitment,” he says. “I think what saved us is that 650 credit score cutoff, which I would allege tells someone’s character to a good degree. Even if they go out of business, they understand they’re on the hook and don’t want their credit to suffer. And because the loans are generally small, they can generally afford to pay it.”

Lessons Learned

A proactive collections process has contributed to the program’s success. Rather than waiting until the end of a 15-day grace period to reach out as the credit union does on normal business loans, credit union representatives call these borrowers to check in within a few days of a payment’s due date.

“These small business loans are generally not sophisticated borrows,” Powell says. “Lots of times they just forget to make the payment and need a reminder. We’ve found it to be a best practice to start collections with these microloans very early in the past-due process. We don’t want to let them get behind because once they’re behind they can’t catch up.”

The partnership with the Small Business Development Center has been crucial to the program’s success, Powell says, and he advises other credit unions to investigate similar offerings in their own markets. But even with that help, credit unions need to be sure they understand applicants’ business plans as well.

“Be sure you understand how to manage and control that risk,” he says. “How to read people’s credit reports, how to understand what they’re telling you in the business plan, how to collect on the back end, and so forth.”

The post Innovations Financial Bets Big On Small Business Lending appeared first on CreditUnions.com.

Top-Level Takeaways

• Dated onboarding and lack of support contributed to high turnover at Community First Credit Union of Florida.
• A new program with shared ownership of onboarding pushed retention above 80%.

When teller turnover began climbing at Community First Credit Union of Florida ($2.9B, Jacksonville, FL), leaders initially chalked it up to pandemic disruption and a tight labor market. But the longer the trend continued, the clearer it became that issues ran deeper.

As the Great Resignation unfolded, annual retention for front-line employees across its 25-branch footprint dropped as low as 69%, prompting difficult but necessary conversations about responsibility, readiness, and culture, says Lori Smith, the cooperative’s chief human resources officer.

“Life had changed with the pandemic; however, we as an organization had not evolved with the shift,” Smith says. “You can’t keep doing the same thing and expect different results.”

Straight To The Source

Instead of guessing why employees were leaving, Community First conducted focus groups that brought together those closest to the work. That included brand-new tellers, senior tellers, and tellers who had progressed into MSR roles, as well as branch and assistant branch managers.

Many teller participants had between six months and one year of tenure, offering perspective on both the onboarding experience and what happened once the training wheels came off. The credit union reviewed exit interview data alongside those conversations to add context.

Smith, who arrived at Community First as the pandemic raged in July 2021, says the goal was simple: go to the source rather than rely on assumptions or anecdotes.

“People closest to the work usually have the best answers,” she says. “We wanted to hear directly from them about their experience.”

The feedback was strikingly consistent, especially around how quickly expectations escalated.

According to Smith: “Our newer team members would say, ‘At Starbucks, they ask me to make coffee. That’s all I do. Here, I’m doing transactions, referrals, pushing lines of credit, and more — and without enough training.’”

The comparison underscored just how complex the teller role had become and how unprepared employees felt in their critical first weeks. The focus groups made it clear that relying on legacy approaches was no longer working and in some cases was contributing directly to turnover.

Those insights inspired Community First to redesign an onboarding experience anchored in a training incubator that blends real transactions with extended support from branch team members and the training and development staff. Rather than moving from classroom simulations straight into high-volume branches, new tellers now build skills in a live-but-supported branch environment with experienced mentors looking on.

Smith says the incubator helps to reduce the anxiety new tellers experience when serving members for the first time while others are waiting and watching across the counter.

“We didn’t want them to feel baptized by fire,” Smith says. “Now we’re investing in them and giving them real experience with a lifeline.”

New hires still complete orientation and other traditional onboarding processes, then start with smaller transactions, learn in real time, and gain comfort before performing independently during peak traffic.

Support Beyond Day One

Notably, support continues after onboarding ends. Leaders conduct formal check-ins at 60 and 90 days, reinforcing engagement and a shared accountability for retention. These conversations are designed to ensure new hires feel connected, noticed, and supported during the period when turnover risk is highest, Smith says.

Within three months of implementing the new onboarding model, teller turnover began to decline. Six months in, Community First revisited the focus groups to assess what was working and where adjustments were still needed. It learned training changes alone were not enough, so it also formalized peer groups among the new team members and leadership check-ins to reinforce connection after onboarding ends.

Branch managers and other leaders now play a defined role in welcoming team members, including the check-ins and sharing accountability for retention beyond HR. Smith says those peer connections matter because early relationships shape whether team members feel noticed and supported.

“Retention stopped being just an HR responsibility,” Smith says. “All leaders play a critical role in creating the environment our team members work in every day.”

Perspective And Opportunity

Community First also expanded onboarding to give new team members a clearer view of the entire credit union, addressing another gap uncovered through feedback. Short presentations from departments across the organization now help new team members understand how all teams support members.

“We wanted to move away from siloed thinking,” Smith says. “We wanted our team members to understand it’s an entire system supporting them and members and see how they fit into that bigger picture.”

That broader context helps front-line employees see long-term opportunity at the credit union rather than a single role.

Results That Changed The Conversation

By the end of 2025, overall retention reached 82% at Community First. Just as important, leaders now view retention as a collective responsibility reinforced through data, relationships, and early engagement.

For Smith, the lesson is clear.

“We should have acted sooner to stop the bleeding earlier rather than waiting until things reached a crisis,” she says. “The evidence was clear. Examining the numbers made it obvious.”

Now, training prioritizes preparation over pressure and sets up employees to succeed.

The post How A Florida Credit Union Rebuilt Retention After The Great Resignation appeared first on CreditUnions.com.

HR executives tasked with guiding both culture and execution now find themselves helping employees understand how to use these tools confidently and responsibly while assuaging fears that these same tools will render them irrelevant in the workplace.

But a sweet spot is emerging, one that relies on messaging as much as machines. When employees participate in pilots, observe the real pain points addressed, and hear clearly that people — not technology — remain the focus, apprehension tends to give way to comfort and even experimentation.

HR leaders are navigating this revolution in real time. They explain where AI is already embedded in their organizations and how they’re preparing their teams to survive and thrive as these tools grow more capable and more common.

Foster Curiosity To Alleviate Fear

Laurie Butz joined Capital Credit Union ($2.7B, Green Bay, WI) as president and CEO in November 2021. She has been a SHRM Certified Senior Professional in HR since 1995.

Butz says her credit union uses generative AI as an efficiency play, automating routine tasks, improving search accuracy, and supporting faster decision-making. Its tools learn from employee behavior to deliver better procedures, create stronger first drafts for training materials, and automate workflow without impacting IT resources.

Capital also uses AI to analyze feedback from exit surveys to highlight trends and help leaders act on real concerns. In marketing, tools like Jasper support brand consistency, speed up content creation, and provide ready-to-use templates for campaigns and website updates.

How is your organization addressing employee fears and resistance around AI adoption?

Laurie Butz: Employees develop proficiency through hands-on tool usages. Our team members have trained on AI technologies, specifically Microsoft Copilot, under the guidance of a Microsoft-certified AI engineer.

At Capital, we foster a culture of curiosity and continuous improvement, therefore we haven’t encountered a lot of fear and resistance around AI in the workforce. For us, automation and support aren’t a threat to job security, so it hasn’t been perceived as something to be feared.

How important are education and open discussion in addressing barriers? How do you incorporate those strategies?

LB: We had Microsoft come on site and lead AI training for all our leaders. Now, we actively encourage leveraging AI to advance our objectives. We expect our senior leadership team to continuously seek opportunities to integrate AI into our processes and team strategies.

What strategies or tools are effective for upskilling employees and bridging the AI skills gap?

LB: Capital ran workshops to teach team members how to use Copilot for business tasks. The sessions familiarized participants with the tool, including creating AI-generated images. The aim was to show how AI can support their daily work and idea generation.

How are you leveraging AI in HR functions — like recruiting, performance management, or succession planning — while maintaining fairness and compliance?

LB:  We’ve enabled BryteAI, an AI module for our HR system designed to help leaders draft job descriptions. We process HR transactions via a conversational bot, and we write performance reviews with AI support.

There Is No AI Skills Gap

Ken Gardner has been with Greater Texas Federal Credit Union ($957.3M, Austin, TX) for 13 years, the past four in his current role as assistant vice president for HR.

Gardner has been helping the HR team adopt AI for daily operations such as drafting communications, improving processes, and strengthening the employee experience across the enterprise and its subsidiary, Aggieland Credit Union, in College Station.

His team is testing 11 custom GPT Assistants from OpenAI for launch in 2026. The assistants will guide employees and managers through policies, benefits, reviews, and core HR processes.

How is your organization addressing employee fears and resistance around AI adoption?

Ken Gardner: We envision AI as augmenting human work much like computers did in the 1980s and 1990s. Just as that technological shift transformed how people worked, AI will do the same. It’s clear that AI will replace some jobs, particularly within large organizations.

For credit unions of our size, we see AI as an opportunity, not a threat. It will help us manage headcount growth as we scale, allowing our teams to focus on higher-value work that requires creativity, empathy, and judgment. That’s why we’re placing greater emphasis on hiring employees who are adaptable and bring strong human skills to the table, skills that technology cannot replicate.

How important are education and open discussion in addressing barriers? How do you incorporate those strategies?

KG: For adoption, it comes down to showing people how AI can make their work better. Demos help, but what truly builds buy-in is giving people tools that solve real, repetitive, and often frustrating problems. Once they experience those benefits firsthand, the hesitation about AI tends to fade and curiosity takes over.

What strategies or tools are effective for upskilling employees and bridging the AI skills gap?

KG: For most employees, there really isn’t an AI skills gap. What they need is exposure to practical use cases. Whether it’s ChatGPT or Copilot, these platforms use plain language prompts that anyone can learn. That accessibility alone eliminates most of the perceived gap. The real challenge isn’t a lack of skill, it’s fear or resistance to change.

When it comes to developing AI internally, design thinking matters far more than coding skills. The real differentiator is thoughtful design: defining a clear use case, creating effective starter prompts, and making smart decisions on the back end to prevent errors and guide users.

For example, in the handbook assistant we recently built, we added clickable starter prompts to help employees begin a conversation. They include, “I’m new to the company, what should I know?” “What should I know about our benefits?” “What are our PTO policies?” and “I want to know more about FMLA.” This kind of design lowers the learning curve and helps employees feel more confident using AI.

As AI takes over more manual and repetitive work, it will naturally create more opportunities for employees to grow their soft skills such as adaptability, problem-solving, and communication. Those are the skills that will matter most in the future, and we are being intentional about hiring and developing people with these skills.

How are you leveraging AI in HR functions — like recruiting, performance management, or succession planning — while maintaining fairness and compliance?

KG: We’ve decided to limit AI in recruiting. Hiring is one of the most human parts of HR, and we want to preserve that personal connection. We are leveraging AI assistants to help create job descriptions, recruiting ads, and interview questions. These tools save time and ensure our materials are clear, consistent, and aligned with our standards.

In performance management, we’re developing an AI assistant that helps employees and managers complete performance reviews. It guides the employee through a series of methodical questions to build their self-review, then uses that input to prompt the manager with targeted questions that weave in relevant themes and feedback.

I’m particularly excited about this because it will significantly reduce the time spent writing reviews and shift the focus toward the actual performance conversation, one that is developmental and engaging rather than just checking the box.

Ultimately, fairness and compliance come from thoughtful design and human oversight. We use AI to streamline processes, not to make final decisions. Our goal is to enhance objectivity and efficiency while keeping people and our core values at the center of every HR process.

Employee Input For Better Output

Ami Iceman-Haueter has been with Michigan State University Federal Credit Union ($8.2B, East Lansing, MI) for seven years and for the past two and half has been chief research and digital experience officer.

Iceman-Haueter says MSUFCU is already using AI in several ways, most notably via virtual assistants Fran and Gene, who respectively support members and employees, enhancing the service experience for both groups.

How is your organization addressing employee fears and resistance around AI adoption?

Ami Iceman-Haueter: MSUFCU has been working with AI partners for several years, and we’ve included our employees in the process every step of the way. Our teams have been involved in everything from designing how our AI systems work to testing them before they’re launched to our members or broader employee base.

We place a strong focus on communication before introducing any new AI-related products or services, helping employees understand how these tools enhance efficiency while emphasizing the importance of keeping humans at the center of our approach.

Involving employees throughout this journey has allowed us to scale several projects, including virtual agents. Sharing the results and impact of these initiatives has been one of our greatest successes.

How important are education and open discussion in addressing barriers? How do you incorporate those strategies?

AIH: Education has been an effective tool, but it alone cannot create change within the organization. That change comes from our leadership team, our employees, and our shared commitment to understanding that AI is part of our toolbox, not a replacement for human talent.

We’ve spent significant time helping employees and managers see AI as a partner in their work while reinforcing that it’s not perfect and we remain responsible for the information it produces. Transparency has been key. Being open about our intent, strategy, and goals for AI has helped our employees feel more comfortable. They understand why we’re embracing AI, how we plan to use it, and exactly where they fit into that strategy.

What strategies or tools are effective for upskilling employees and bridging the AI skills gap?

AIH: We have made AI education a standard part of our training package. We’re also rolling out department-specific use cases and piloting ways to understand what information is most valuable for our managers, leaders, employees, and even interns.

This helps us bridge gaps thoughtfully and tailor AI tools to each access point. Different departments will use AI in different ways, some for automated decision-making and others in service capacities.

The most important part is identifying use cases that support our team’s everyday work. At the same time, we continue to invest in all other areas of training to keep skills and competencies strong across the organization. Our goal is to maintain a healthy balance between problem-solving with AI and problem-solving independently while helping every employee build the skills they need to grow in their careers.

How are you leveraging AI in HR functions — like recruiting, performance management, or succession planning — while maintaining fairness and compliance?

AIH: We’re not currently using AI in recruiting beyond helping to draft job postings. AI supported the development of our performance management program, and some managers might use it as a tool to help complete parts of the process. AI also played a role in creating our succession planning program, and we use it in several of our payroll processes as well.

Fight Fear With Fun

Rachel Schaming is a longtime executive coach and organizational consultant who has served We Florida Financial Credit Union ($719.5M, Pembroke Pines, FL) as its chief human resources officer for the past five years.

Schaming says the Florida shop uses gen AI to streamline loan applications, call center work, and deposit processes. For example, AI cuts loan decisioning time by 50%, speeding up member service and reducing manual review.

In HR, AI tools help create and update job descriptions, craft postings, screen resumes, draft policies, and write newsletter content, saving an estimated 30% of the time spent on these essential HR tasks. The credit union’s Innovation Team has also built two AI apps that give the workforce quick access to procedures, policies, and updates so they can find the information they need without delay.

How is your organization addressing employee fears and resistance around AI adoption?

RS: We use Kahoot quizzes and word searches to make AI technology fun. Our intention is to help employees see that learning new skills can be fun and create new ways to serve our members more efficiently.

What strategies or tools are effective for upskilling employees and bridging the AI skills gap?

RS: Employees are aware that our board requires us to provide a document indicating progress in upskilling with a particular focus on technology and AI competencies. We have an Individual Development Plan (IDP) process that is tied to our performance management software.

How are you leveraging AI in HR functions — like recruiting, performance management, or succession planning — while maintaining fairness and compliance?

RS: Over the past couple of years, we have held team and individual meetings to show employees how AI can enhance their job competencies with increased efficiency. We require all employees to include an AI course in their IDP. Because we require all employees at every level to include technology and AI coursework in their IDPs, we’ve had minimal resistance to learning the new technologies. 

Interviews have been edited and condensed.

Let’s Join Forces To Navigate AI In HR. Faster changes in technology make peer insight more valuable than ever. Callahan creates spaces for credit union HR leaders to connect, compare approaches, and improve performance through programs like roundtables, live webinars, ready-to-use documents, and more. Learn more about Callahan’s programs today.

The post How AI Is Shaping HR For The Next Era appeared first on CreditUnions.com.

CHALLENGES TO DEVELOPING LEADERSHIP CAPABILITIES
FOR 1,159 BUSINESS LEADERS | DATA AS OF MARCH 2025
SOURCE: HARVARD BUSINESS REVIEW

For credit unions, the importance of leadership development goes beyond staffing; it safeguards the mission and strengthens member value. Strong leadership development strategies help reduce disruption during leadership transitions and ensure credit unions are well-managed and future-ready. Understanding where gaps exist can be a low-hanging fruit that pays dividends when paired with a clear strategy. For credit unions looking to establish a succession plan, research from Gallup encourages organizations to think outside the box by assessing readiness and defining stages of development.

These principles come to life in practical strategies credit unions are using to strengthen leadership pipelines and retain top talent.

Strategic Insights

• Nearly 50% of organizations struggle with leadership development due to lack of time and unclear skill gaps, according to the HBR study. The pandemic and the Great Resignation taught credit unions that keeping great employees means meeting them where they are and investing in their development regardless of where they sit. “That means offering virtual conferences, webinars, online training — all with the same energy we used to bring to in-person programs,” says Lori Smith, chief human resources officer at Community First Credit Union of Florida ($2.9B, Jacksonville, FL).
• Companies that invest in leadership growth report higher engagement and lower turnover, especially in competitive talent markets. At Chartway FCU ($3.2B, Virginia Beach, VA), an emerging leaders is helping to create a strong internal leadership pipeline. “We wanted intentionality around retention and building a strong internal leadership pipeline for succession planning,” says Jill Edsall, director of learning and talent development.  “This program identifies a pocket of high performers where we can invest more time and energy.”
• Organizations that link leadership development to business strategy build stronger succession pipelines. Talent development is a key area of succession planning strategy at Patelco ($9.5B, Dublin, CA). The credit union has a three-tiered system that identifies employees it wants to retain, those ready for new roles and responsibilities, and those who need professional support. “We have clear expectations for our leaders based on talent assessments, cross-functional calibration, and transparent plans communicated to the individual,” says Susan Makris, Patelco’s chief people officer.

The post Is Your Credit Union Making Time For Leadership Development? appeared first on CreditUnions.com.

One key takeaway from the following year-end updates is that many of the challenges that prompted coverage then remain relevant today: attracting new members, especially those among younger demographics; introducing competitive, innovative products; promoting member financial wellbeing; and fostering community engagement and development.

So, where are these credit unions now? And what insights do they have for the future?

Help For Financial Futures

THEN: In March 2023, Transcend Credit Union ($557.2M, Louisville, KY) launched a checking account for 13- to 17-year-olds with features that appeal to teens and parents.

In fewer than two years, the program brought in more than 530 new teen accounts. When speaking to CreditUnions.com in 2024, the credit union reported that teen accountholders held an average balance of approximately $864 and, together, generated roughly 3,000 debit card transactions per month. The account also helped the credit union lower its average member age from the 50s to 47.

NOW: According to Darran Stopher, chief retail officer, the credit union had 922 teen accounts as of December 2025. He says one of the biggest drivers of this growth was partnering with three youth organizations to provide financial education.

“We developed educational materials on budgeting, checking and savings accounts, and responsible credit use,” Stopher says. “For one group, we participated in a seven-week class. Upon graduation, each student received $100 from us and $100 from the program to open an account.”

NEXT: Transcend plans to continue these partnerships into 2026. The credit union also runs two popular deposit match campaigns, one during National Credit Union Youth Month in April and a back-to-school promotion in August.

“Our staff has found it incredibly rewarding to conduct these financial education classes and support community members,” Stopher says. “And parents who brought their teens expressed deep appreciation, noting the teens enjoyed the classes so much they chose to stay and participate alongside them.”

Read the original coverage, “Transcend’s Teen Account Banks On The Future,” on CreditUnions.com.

Flexibility Amid Affordability Challenges

THEN: Buy Now, Pay Later programs have come on strong the past few years, but a 2024 survey from PYMTS and Velera found only 1.5% of credit unions offered it.

USF Federal Credit Union ($1.3B, Template Terrace, FL) made member financial wellbeing a top priority when launching its own BNPL product in June 2024. Rather than offer BNPL at checkout, the credit union allows members to apply a plan post-purchase. Splitting the total cost into installments while still using funds already in their account gives members the flexibility to manage unexpected expenses or big-ticket items.

Richard Sellwood, chief operating officer at USF FCU, spoke to CreditUnions.com in September 2024. Despite the fact the credit union’s BNPL offering was only a few months old, members had opened 350 plans.

NOW: As of August 2025, 1,420 members had enrolled in the program and opened a total of 5,450 plans.

“We’ve been able to engage with members who would have otherwise used outside services that might not put the same emphasis on their financial health that we do,” Sellwood says.

NEXT: The offering’s popularity comes amid ongoing concerns over affordability. According to Sellwood, the Florida cooperative has noticed an uptick in interest closer to the holiday season, which could indicate members are using plans to accommodate seasonal spending.

“Members have expressed how grateful they are to have the added financial flexibility in times of need,” the executive says. “We’ve made a few small tweaks along the way, but I foresee this continuing to be something we offer to our membership.”

Read the original coverage, “Buy Now, Pay Later: Fad Or The Future?” on CreditUnions.com.

Fueling Community One Bite At A Time

THEN: Redwood Credit Union ($9.7B, Santa Rosa, CA) goes beyond its role as a source of fulfilling financial options with its in-house eatery, The Grove Café.

The credit union originally opened the café in 2017 at its Santa Rosa headquarters to provide staff members access to healthy, convenient meal options. It expanded the concept to the community in 2023 under a new partnership with a local catering company. Then, in 2024, the California cooperative opened a second café at its Napa-area co-headquarters.

NOW: CEO Brett Martinez says both locations have since become a go-to lunch spot.

“It’s a space where members, employees, and neighbors can come together to enjoy high-quality, healthy meals at a reasonable price,” he says. “And when someone visits for breakfast or lunch, they also get a glimpse of what RCU is all about.”

Feedback has been overwhelmingly positive, reflected in both a 4.8-star Yelp rating and consistent year-over-year sales growth. The Santa Rosa cafe is up 7.5% year-over-year in sales; the Napa location has posted a whopping 25% increase compared to 2024.

In addition to sit-down meals, The Grove also offers convenient grab-and-go options, including those big enough to bring back to the whole family.

NEXT:  When it comes to meal planning, the credit union has even started somewhat of a holiday tradition for the most wonderful time of the year.

“Each Thanksgiving and Christmas, we prepare chef-crafted holiday meals at an affordable price for the public,” Martinez explains. “These meals have become a beloved way to make the holidays easier and more enjoyable.”

As for the CEO’s go-to menu item? He says one of his personal favorites is the chicken teriyaki bowl with extra chicken and brown rice. Yum!

Read the original coverage, “Redwood Credit Union Serves Up More Than Financial Services,” on CreditUnions.com.

The post 3 Popular Case Studies From 2024: Where Are They Now? appeared first on CreditUnions.com.

Hurricane Maria slammed the U.S. territory of Puerto Rico in 2017, leaving behind landslides, flooding, power outages, destroyed homes, and more. With nearly 3,000 fatalities, the island’s power grid completely destroyed, and damages estimated at $90 billion, it was the definition of a crisis.

Fortunately, a pair of CDFI grants helped JetStream Federal Credit Union ($265.5M, Miami Lakes, FL) play a major role in recovery efforts.

The Problem

The Center for Puerto Rican Studies estimates more than 3,000 people left the island for the U.S. mainland in the wake of the storm, many of them settling in nearby Florida. But for residents of an island more than 1,000 miles from the continental United States, relocating was anything but easy.

For starters, many lenders on the island didn’t allow residents to transport their cars, forcing those who emigrated to the mainland to leave behind their mode of transportation. Once on the mainland, many people needed help covering security deposits for living arrangements, replacing damaged and ruined belongings, and securing other essentials.

Those who stayed behind also had belongings to replace, homes to repair, and urgent expenses to cover.

The storm inflicted $90 billion in damages, and a report from Moody’s estimates insured losses might have reached as high as $30 billion, making Maria one of the costliest hurricanes in U.S. history.

The Solutions

JetStream FCU’s field of membership includes anyone who lives, works, worships, or attends school in Miami-Dade County as well as Carolina, Trujillo Alto, and San Juan counties in Puerto Rico. Its branch presence in Florida and Puerto Rico enabled the credit union to serve displaced members seamlessly.

To help members manage the aftermath of Maria, JetStream tapped two CDFI grants — one of $776,000 for funds to resettle people who left after the hurricane and a $1.25 million grant to help members who remained on the island.

The resettling grant helped new and established members cover costs such as security deposits for rental homes, vehicle shipping, and more.

“Somebody came in to join and right away asked, ‘Can I refinance my car?’ says Jeanne Kucey, CEO at Jetstream. “They wanted to ship it to Florida, so we became the answer for a lot of people.”

Shipping a vehicle from Puerto Rico required members to first refinance their auto loan with JetStream, which enabled them to pay off the loan at the originating institution, then ship it from the island to the mainland at a cost of approximately $2,000. After that, members also could use grant funding to cover the cost of vehicle registration.

Members who stayed on the island needed help, too. One of their major expenses was replacing personal goods, everything from furniture to patio covers, home repairs, and more.

The credit union offered a loan to existing members only that Kucey says was essentially a standard personal loan in terms of pricing; however, JetStream stretched its normal underwriting criteria as far as credit scores, debt-to-income levels, and more, to serve as many people as possible. That’s important because many low-income borrowers used the funds — with loans averaging $10,000 — to improve energy efficiency, eliminate mold, and make essential repairs and updates. The credit union was even able to help two of its own employees who lost nearly everything inside their homes, Kucey says.

“We had a lot of people use these loans to replace their goods,” the CEO says. “We were surprised at how many people had the savings to take care of what they needed, but for those who didn’t, this was a lifeline.”

The Results

Beyond simply deploying CDFI grant funds, these loans became lifelines for members rebuilding their lives and communities. JetStream came through with critical financing to restore homes and replace essentials, but the credit union also empowered those driving relief efforts.

For example, a Puerto Rico-based member who frequently visited the branch for his personal and business services realized the island needed diesel providers to refuel the generators that were powering residents’ homes after the storm. That member and his wife bought a truck on the mainland and shipped it to the island to start Chester Energía y Transportes, a diesel-refueling business.

“They came to us to open a business account to have accessible funds for refueling the tank,” an island staffer wrote to Kucey in an email. “They gathered all the required information and opened their account. Rapidly, many people started using their business. They covered the whole island. They’re grateful that we were there to help start their business. They always talk about how close they feel to us when conducting transactions and how they would never change their membership to another institution.”

The credit union doesn’t have plans to relaunch these disaster recovery loans for future emergencies, but their success has shaped programs like the furlough loan JetStream introduced during the 2025 government shutdown. For Kucey, the experience reinforced the core principle of “people helping people” isn’t just altruism, it’s good business.

“The losses were non-existent,” she says. “Just do the right thing and don’t worry about the bottom line because it all worked out.”

The post JetStream FCU Turns CDFI Funding Into Lifelines After Hurricane Maria appeared first on CreditUnions.com.

In this clip from Callahan & Associates’ second quarter Trendwatch webinar, Patten outlines how PEFCU is deepening its relationship with Publix associates by meeting them where they are — quite literally. The credit union’s business relationship team visits stores, warehouses, and corporate offices to connect with members and introduce new ones. It complements this boots-on-the-ground approach with Financially Fresh, a free financial wellness program designed to support associates and their families through online tools, in-person workshops, and live webinars.

Patten emphasizes that financial education is a movement, not just a benefit. With more than 23,000 registered users and nearly 1,000 new sign-ups each month, Financially Fresh is helping associates navigate budgets, credit, savings, and more. The program’s colorful, interactive platform and incentive-based engagement model make learning both accessible and fun. Associates are showing up before shifts, during lunch breaks, and even on days off to invest in their financial futures

From relocation loans tailored to Publix’s promote-from-within culture to participation in new hire orientation, PEFCU is embedding itself into the associate journey from day one. Patten’s message is clear: by listening to members, meeting them where they are, and staying true to the credit union’s founding values, PEFCU is building lasting relationships that benefit more than the bottom line.

Don’t Stop Here. At Publix Employees FCU, marketing plays a pivotal role in select employee group engagement. Read more in “Smart Marketing Speaks To A Select Employee Group.” Then dive into second quarter performance trends in Callahan’s Trendwatch webinar.

The post Stocking Every Aisle With Financial Opportunity appeared first on CreditUnions.com.

A report earlier this year from the Pew Research Center indicated nearly one-third of consumers, 28%, believe their financial picture will be worse one year from now. That’s a 12-point increase from last year’s data. Meanwhile, 35% percent expect things to be about the same, down from 49% last year, and the number of those who think things will be better by this time next year rose just three points to 37%.

Despite that, a majority of credit union members still feel confident about their financial futures, according to recent Gallup data, though bank customers report slightly higher confidence levels.

The bottom line? Consumer confidence is fragile, and despite a small uptick in optimism, more people than last year are anticipating worsening conditions.

FINANCIAL CONFIDENCE
FOR U.S. CONSUMERS | DATA AS OF 2025
SOURCE: GALLUP

For credit unions, this fragile confidence presents both a challenge and an opportunity. As consumers navigate uncertainty, the institutions best positioned to respond are those that already prioritize financial wellbeing. Credit unions, with their mission-driven focus and history of member support, are designed to meet this moment — not just with education, but with empathy, trust, and practical tools that help members feel more secure.

Strategic Insights

• Perhaps not surprisingly, much of the Pew data can be sliced and diced along partisan lines. A slight majority, 55%, of those who lean Republican expect things to improve in the next 12 months, whereas 47% of those who lean left expect things to worsen.
• Regardless of politics, things don’t look good for those of modest means. Nearly half, 45%, of lower-income consumers can’t pay their bills in full each month, compared to 19% of middle-income earners and just 7% of those in upper income brackets.
• Other demographic considerations also come into play. Two studies conducted in 2023 found more than half of women 25 years and older said they were not financially secure; a full 75% of low-income women had no emergency savings and 66% said they did not have the tools to plan for retirement.
• Additionally, one-third of Gen X and millennial consumers — 35% and 33%, respectively — feel financially worse off than their parents, according to a 2025 study from Credit One Bank, and younger generations are feeling anxious about their long-term financial futures.

How Are Credit Unions Supporting Members?

• Knoxville TVA Employees FCU is making it easier for younger members to set aside a little money for a rainy day. Learn more about how a little saving goes a long way.
• Meanwhile, UVA Community integrates financial education with products tailored to young people to help these members build confidence and independence. Read more about how to tackle teen banking.
• In 2022, InTouch expanded services for those nearing or in retirement to help members take an active role in planning their financial future. Read more about how this credit union makes retirees’ golden years brighter.
• Canopy Credit Union has invested in its front-line staff via certified financial coach training to empower employees and reinforce the institution’s commitment to community wellbeing. Read more about turning tellers into teachers.
• A partnership between Hello Credit Union and United Way’s local 211 service directs callers struggling with financial needs to Hello for credit counseling, budget assistance, or more. Learn more about answering the call for help.
• The Boost Center by Blue Federal Credit Union is a one-stop, centralized family resource center that offers help for everything from housing and transportation to food insecurity and financial services. Read how Blue boosts its community.

Join Callahan & Associates and Gallup to learn about exclusive research and insights on how emotional engagement and the perception of care drive member participation and, ultimately, credit union growth. Watch “A Roadmap To Credit Union Growth” today.

The post U.S. Consumers Present A Mixed Bag Of Future Financial Sentiment appeared first on CreditUnions.com.

Top-Level Takeaways

• To engage its select employee group, Publix Employees FCU’s marketing team serves as an extension of member experience, employing a relationships-based approach.
• Two key outcomes from this approach include the creation of the credit union’s Financially Fresh financial wellness program and a low-interest relocation loan program.

When George Jenkins opened his first grocery store in 1930, he stocked more than shelves — he stocked opportunity. That vision extended beyond aisles and into accounts when he helped establish Publix Employees Federal Credit Union ($1.5B, Lakeland, FL) in 1957. According to the credit union’s website, Jenkins and other leaders believed employees deserved better loan and savings options. That mission — and the credit union’s singular focus on its select employee group — is still important to today.

Six years ago, leaders at PEFCU realized they wanted to reconnect with the iconic supermarket’s roots. To do this, they enlisted the help of Shannon Patten, now the credit union’s chief marketing officer. Patten had spent more than two decades as a Publix associate, first as a cashier and then in subsequent leadership roles in communications. According to Patten, the move was a big step but not one she regrets.

“It’s been a fun and rewarding journey,” Patten says. “The shift that surprised me most wasn’t the industry. It was the size of the organization. Going from a company with more than 250,000 employees to one with fewer than 300 was a big change.”

Patten’s early priorities included building brand consistency and ensuring the organization understood its target audience, the Publix select employee group. That groundwork helped PEFCU’s marketing department widen its scope, which today includes digital strategy, internal and external communications, financial education, and business relationships.

“What I love most about this role is how purpose-driven it is,” Patten says. “Everything we do is centered on improving the financial lives of our members, and that makes the work both meaningful and motivating.”

Great Strategy Starts From Within

PEFCU’s marketing team comprises three functions: operations, integrated marketing, and business development. Each plays an essential role in the credit union’s overall strategic vision. Business development insights feed integrated marketing efforts while operations ensures tight, member-focused execution.

One of the more unconventional, and strategic, choices the credit union has made is to place business relationship specialists with marketing rather than retail. According to Patten, the logic is simple: marketing is where relationships are nurtured, expanded, and sustained. That’s especially important for a credit union that serves a single select employee group.

“These roles are outward-facing, connection-driven, and very much in line with marketing’s core strengths,” the marketing chief says. “Marketing isn’t just about promoting products, it’s about delivering meaningful, consistent experiences. We see this team as an extension of the branch experience.”

Like most marketing teams, Patten’s department relies on traditional KPIs and platform metrics, such as engagement rates, conversions, and campaign ROI. These give a clear view of performance that allows the team to adjust in real time. However, Patten says story-based wins are just as important.

“We use data to inform strategy,” she says. But we never let it replace the human connection behind the numbers.”

Reconnecting With Roots

When Jeremiah Kossen took the helm as PEFCU’s CEO three years ago, he challenged the credit union to re-anchor itself in the cooperative’s founding mission of providing “exceptional, convenient, and innovative financial solutions” throughout members’ lifetimes.

“This wasn’t about a flashy campaign or a one-time push,” Patten says. “It was about doing the work, rebuilding relationships, earning trust, showing up consistently, and delivering on what we promise.”

To do this, Patten’s team engages with associates to ask what they need and how the credit union can support them. The team treats every interaction with its select employee group as a chance to show employees the credit union has their backs.

“It’s about pride in our legacy and making sure every Publix associate, whether they’ve been around for decades or just started, sees PEFCU as a real, valuable partner,” Patten says.

In addition to building stronger trust, the one-on-one connection has helped PEFCU develop better products and encourage stronger SEG engagement.

Publix already offers generous employee benefits, but financial wellness also plays a major role in overall associate wellbeing. To help Publix associates make healthier financial decisions, PEFCU rolled out Financially Fresh, a free, simple program designed to meet associates where they are. It’s approachable, accessible, and relevant to employees’ real-life scenarios.

The credit union also created a relocation loan to meet the specific needs of Publix associates on the move. The loan helps associates who are transferred or take new roles that require them to pick up stakes, giving eligible employees affordable access to extra cash when they need it most.

“Whether it’s for moving expenses, deposits, or simply getting settled in a new space, this low-rate loan helps bridge the gap without creating financial strain,” Patten says. “It’s our way of saying, ‘We’ve got your back.’”

No Slowing Down

The team at PEFCU has had a busy year, and there’s always more to do.

“We just came off four grand openings,” Patten says. “Assisting with the design and decor of these new locations was a lot of fun. That’s something I am excited about that the marketing team just finished.”

Now, the focus shifts from grand openings to ongoing growth — in brand, in relationship, in products, and in the way PEFCU shows up for its members.

“Success is when we’re a little better each time,” Patten says.

After all, credit unions aren’t just in the money business; they’re in the business of helping people. This makes a relationship-based approach to marketing a fitting way to drive member engagement and loyalty, especially for institutions with legacy SEGs.

Don’t Stop Here. Publix Employees FCU turns everyday moments into lasting financial impact. Through on-site support and a vibrant wellness program, the credit union is building trust, offering guidance, and forging financial confidence one associate at a time. Hear Shannon Patten, chief experience officer at PEFCU, outline how the credit union is deepening its relationship with Publix associates. Watch now.

The post Smart Marketing Speaks To A Select Employee Group appeared first on CreditUnions.com.

Top-Level Takeaways

• Eight credit unions and nine fintechs gathered for the inaugural Create 2025 summit in May.
• Key industry concerns discussed included differentiating in a crowded market and overcoming outdated risk management practices.
• A follow-up event is set for November and a 2026 iteration is already in the works.

If credit unions and fintech companies had a Facebook relationship status, it would probably be “It’s complicated.”

Though the two have often been pitted against one another, the dynamic has evolved from competitive to collaborative. This way credit unions can leverage new technology, improving operations and member experience, while fintechs gain access to a valuable client base. Popular applications include AI-driven fraud detection, mobile wallets, and streamlined lending platforms.

Earlier this year, leaders at Suncoast Credit Union ($18B, Tampa, FL), in partnership with WithClutch and ModernFI, decided they wanted to shake up the conversation. In May, they hosted the inaugural Create 2025 fintech summit in New York City.

“Fintechs have a way of solving industry issues, but rarely do they come to credit unions with a blank slate and say, ‘What do you need us to build?’ They’re typically already coming with something built and hoping that it serves a purpose,” explains Darlene Johnson, Suncoast’s chief strategy and transformation officer.

As Suncoast’s self-proclaimed fintech guru, Johnson says the goal was to bring together leaders from both worlds to discuss key challenges credit unions face and how fintechs might address those needs. In total, eight credit unions and nine fintech companies were present at the event, and plans are already in the works for more.

A Meeting With A Common Goal

It only took six weeks for Create 2025 to go from idea to reality. After early discussions with ModernFi and WithClutch, organizers compiled a list of credit unions and fintechs they thought might be interested and quickly received RSVPs.

“The one rule on the table was that fintechs weren’t allowed to come and sell their product. That’s not why we were there,” Johnson says.

Credit union leaders were asked to come with an open mind and innovative approach.

“The agreement was to look for opportunities to solve industry issues, not issues exclusive to one credit union,” notes Johnson. “We wanted everyone to look at the big picture and ideate around improving the cooperative movement holistically.”

Participating credit union leaders were surveyed beforehand about what they considered to be the industry’s top problems. This helped guide the discussion.

“We probably could have [spread the event across] multiple days. It was a really robust conversation, and we walked away with a list of really actionable items,” Johnson says.

The event was structured as a roundtable discussion followed by a group dinner afterward.

Participating credit unions included Suncoast, Coastal Credit Union, Interra Credit Union, Meritrust Credit Union, Mississippi FCU, New York Municipal Credit Union, Schools First FCU, and Vibrant Credit Union. Fintechs included ModernFi, Clutch, Alloy, Bloom, Flow, MX, Prizeout, Pulsate, and Taktile.

We exist to serve our members and strengthen our communities. If a great product or innovation helps more members, whether they’re ours or another credit union’s, that’s a win. We’re not in a race against each other; we’re in a race against financial exclusion, predatory lending, and outdated systems that don’t serve people well.

Key Goals And Challenges

Some of the key discussion points included the need to differentiate in a crowded market, overcoming the constraints of legacy risk management, and delivering value through data and personalization.

“I think you have to look at personalization in a very different way; people are really accustomed to the whole ‘add to cart’ philosophy,” says Johnson.

The conversation also touched on the importance of branding, including the launch of digital-first brands and how to leverage affiliate marketing.

“We think we have the best experiences or the best products, but do those fall a little bit flat without brands that resonate?” Johnson says. “We talked a little bit about delivering meaningful experiences and creating a brand that connects emotionally with our members.”

Another recurring theme was the need to move beyond a “Frankenstein” approach of disconnected tools and fintech vendors.

“Credit unions have a very robust backlog of projects that we want to implement, and most credit unions run very lean, so we can only do so many projects in a year,” Johnson says. “We talked about how to potentially partner fintechs together so that when a credit union implements one they’re really getting multiple solutions in one integration.”

In a crowded financial services landscape, multiple credit unions often compete in the same market. But the Suncoast CSO says she isn’t a stranger to a raised eyebrow or two.

“People ask, ‘Aren’t you worried about competing against other credit unions with the same products or technology you help develop?’ And honestly, my answer is no,” says Johnson. “We exist to serve our members and strengthen our communities. If a great product or innovation helps more members, whether they’re ours or another credit union’s, that’s a win. We’re not in a race against each other; we’re in a race against financial exclusion, predatory lending, and outdated systems that don’t serve people well.”

Next Steps And More To Come

Though the event was held in May, Johnson says the work hasn’t stopped since.

“We can’t call this Create 2025 and then not create something – and that’s not in my DNA anyway. You have to execute,” she explains. “We came up with what I think is a very exciting idea. We’re not ready to share it yet, but we are currently working on a name for the product and a business plan.”

That will be unveiled at a “part two” of Create 2025 scheduled for November 7. And stay tuned, because Create 2026 is already in the works.

Johnson says that thousands of new fintech companies popping up all the time, the credit union industry can’t afford to ignore them.

“Embrace it. Think of them as partners. Find ways that they can enhance your business instead of disrupt your business,” she says.

The CSO continued by pointing out that fintech companies are new and learning.

“Understand that they really don’t know the credit union industry,” Johnson says. “It’s new to most of them, and so they’re very open to feedback. They are really willing to customize and create things differently to solve our problems.”

The post Credit Unions, Fintechs Join Forces For Inaugural Event appeared first on CreditUnions.com.