St. Louis Community Credit Union releases 2021 Impact Report

Cover of St. Louis Community Credit Union’s 2021 Impact Report

St. Louis Community Credit Union has released their 2021 Impact Report, which sheds light on the work their staff and partners have been doing to meet the financial and life needs of their membership.

Paul Woodruff, SLCCU’s Vice President of Community Development, said of the report: “While our vision of a financially equitable St. Louis for all is far from being realized, the winds of hope and change continue to propel the community development finance industry forward. Our Board and staff continue efforts to build the capacity and confidence of account holders to manage personal finances, as well as their ability to access services and loans that provide them the opportunity to build generational wealth.”

Read the report >>

BJC Healthcare partners with CBN members to support community health improvement

BJC HealthCare is introducing its community health improvement strategic plan, leadership team, and first regional partnerships in an effort to alleviate health inequities across the St. Louis region. Two of their initial partnerships are with CBN members Midwest BankCentre and St. Louis Community Credit Union, both financial institutions that have a shared mission of improving health and economic wellbeing. BJC recently developed a depository relationship with these two local financial institutions to address a historic lack of investment in the City of St. Louis and North St. Louis County. The deposits will be used to create loans to invest in these communities, including support for entrepreneurs to start and grow businesses and for individuals to realize the dream of home ownership.

Read the full press release >>

Read more about St. Louis Community Credit Union’s Community Impact Deposit Program >>

St. Louis Community Credit Union Launches Business Services Division

ST. LOUIS, Feb. 2, 2022 – St. Louis Community Credit Union (SLCCU) has created a Business Services division that will provide much-needed capital to established business owners in their desire to build wealth.

Alex Fennoy has joined SLCCU as Senior Vice President of Business Services to lead this area. Alex came to the organization with nearly 30 years of banking experience, including a strong focus on business lending. Most recently, Alex served as Executive Vice President and Community & Economic Development Director for Midwest BankCentre in St. Louis. He also has a solid background in community development, working with an expansive network of partners and consumers to provide accessible and affordable banking services. Alex received his Bachelor of Science degree (with an emphasis in Accounting) from Fisk University in Nashville, Tennessee.

Through SLCCU’s Business Services division, up to $5 million in business loans will be offered to qualifying applicants. In addition, a key component of this entrepreneurial outreach involves strong community alliances. The Credit Union has partnered with the St. Louis Small Business Empowerment Center (SBEC) to offer established, local businesses loans between $10,000 and $250,000 for working capital.

“I’ve long admired St. Louis Community Credit Union’s ability to provide targeted resources that invest in the ultimate success of the entire community,” says Fennoy. “By helping business owners build and maintain wealth, we ensure that everyone has the opportunity to achieve their dreams and create lasting financial legacies. I’m honored to be part of such a vital program that will transform the lives of many.”

For eight decades, St. Louis Community Credit Union has been a true champion for the communities it serves, helping people reach their desired financial goals. To learn more about SLCCU’s business services, visit www.stlouiscommunity.com/loans/business-loans.

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 About St. Louis Community Credit Union

For 80 years, St. Louis Community Credit Union (SLCCU) has been a true champion for the community. As a Community Development Financial Institution, the organization values and recognizes the importance of financial inclusion and belonging. As part of its giveback, SLCCU offers affordable account services and loans, as well as several accessible locations in the heart of the community. It also aligns with partners like Prosperity Connection helping its members receive free financial education and coaching services. Through its community-focused outreach efforts, SLCCU offers members the opportunity to connect to much-needed services that may affect their daily lives outside of banking (e.g., access to healthcare, workforce development and education).

 SLCCU serves residents of St. Louis City and those of Franklin, St. Louis and St. Charles counties in Missouri; as well as St. Clair, Madison, Monroe and Jersey counties in Illinois. SLCCU is a Low-Income Designated credit union and one of the largest Minority Depository Institutions in the country (per the National Credit Union Administration). All accounts are federally insured to $250,000 by the National Credit Union Administration, a deposit-insurance agency of the federal government, and privately insured up to an additional $250,000 by Excess Share Insurance.  For more information, please visit www.stlouiscommunity.com.

St. Louis Community Credit Union Creates Gateways to Banking Careers

St. Louis Community Credit Union is more than a credit union. They’re a leader and voice for social justice in the financial services world and across St. Louis neighborhoods. They exist to increase the standard of living and better the lifestyle of their members, staff, and the communities they serve.

That’s why they decided to co-found the Gateway to a Banking Career program in 2018 with Carrollton Bank and Enterprise Bank & Trust to create more equitable access to careers in the financial sector.

The Gateway to a Banking Career program has two goals:

• Offer individuals a pathway to career options within the financial services industry

• Build a more inclusive and diverse workforce within banks and credit unions

Since launching, four cohorts and a total of 46 people have successfully completed the program. Of those who completed the program, 42 self-identify as African American (35), Latino (2), or immigrants (5) to the United States.

Participants learn how to pursue a successful career in the financial services industry. Training covers essential elements like customer service best practices, banking products and services, personal financial wellness, resume writing, business etiquette, and interview skills.

“Not only did this program get me ready for the Credit Union professionally, but also gave me a boost of confidence with my personal goals. I was made aware that there’s no limit to my talent, and all I had to do was show up and show out!

Tammerah J.
2018 Gateway to a Banking Career Participant”

Everyone who successfully completes their two-week training receives a stipend, guaranteed job interview with at least one of the participating financial institutions, and ongoing encouragement post-program. To date,19 participants secured employment at a financial institution, while numerous others were able to secure employment opportunities at other employers.

Banks and credit unions do not traditionally partner to produce joint programming, much less develop a job training program. However, St. Louis Community Credit Union, Carrollton Bank, and Enterprise Bank & Trust shared a common commitment to building a diverse and inclusive financial workforce and have long-standing relationships.

“Not only did this program get me ready for the Credit Union professionally, but also gave me a boost of confidence with my personal goals. I was made aware that there’s no limit to my talent, and all I had to do was show up and show out!” said Tammerah J., participant in the 2018 Gateway to a Banking Career program.

St. Louis Community Credit Union partners with Employment Connection, Connection to Success, and the International Institute, among others, in order to connect area residents to the program and opportunities in banking careers.

When the COVID-19 pandemic hit St. Louis, the Gateway to a Banking Career program transitioned to a virtual format!

St. Louis Community Credit Union is a certified community development financial institution (CDFI). Through caring service and education, St. Louis Community Credit Union provides the residents of the St. Louis region with safe, affordable and accessible financial services and products. For more than 75 years and counting, they have been serving residents of St. Louis City and those of Franklin, St. Louis and St. Charles counties in Missouri; as well as St. Clair, Madison, Monroe and Jersey counties in Illinois.

St. Louis Community Credit Union is a Low-Income Designated credit union and is one of the largest Minority Depository Institutions in the United States (per the National Credit Union Administration).

St. Louis Community Credit Union is a member of the St. Louis CDFI Coalition, a partnership among eight CDFIs that offer an array of capital, development, and consulting services and share a common mission to empower a comprehensively healthy St. Louis community through support for nonprofits, small businesses, and communities facing disinvestment.