EAST HARTFORD, Conn. –American Eagle Financial Credit Union won two awards at APEX 2023, a joint event sponsored by the Credit Union League of Connecticut and the Cooperative CU Association.
AEFFCU said the awards cap off another successful year of giving back to the community for the CU, which said it has dedicated itself to being a community-driven credit union serving more than 180,000 members in Connecticut and Massachusetts.
AEFCU was recognized by its fellow Connecticut credit unions with a 2023 Louise Herring Philosophy-In-Action Award.
“The Herring Award represents “people helping people,” and those credit unions that help improve the quality of life for members, their families and the communities where they live, work and worship,” AEFCU said. “That is exactly what American Eagle’s Simple Checking product is all about. It is an account designed without minimum balances or high transaction fees to be an entry-level way for people to establish a banking relationship to help build their credit rating and avoid ‘fringe’ alternative financial services such as check cashers and payday lenders.”
At right, from left, CEO Howard Brady, EVP/COO Teresa Knox, and EVP Brian Kennedy.
“American Eagle is one of 56 of the nation’s almost 4,800 credit unions to offer this product, which carries the national “Bank On” program certification,” said President and CEO Howard Brady. “We are very proud that this program was recognized for the Louise Herring Award, as it represents putting our philosophy into action.”
American Eagle said it designed its “Cash Back to the Community” program to be collaborative and to put member-generated philanthropy into action in the communities they serve.
“Once each quarter, Cash Back to the Community devotes one percent of our credit and debit card interchange income—generated each time our members use an American Eagle credit or debit card—to three nonprofit organizations in our service area that are nominated and
selected by a combination of our members and the public,” Brady explained. “This member-generated, community-driven giving program has allowed us to double the amount of funds we’re giving back to help make the places our members and employees live, work and learn a better place. Since 2020, Cash Back to the Community has generated $325,000 for local nonprofit organizations.”