LANSING, Mich. — The partnership between LAFCU and the Perry, Mich. community was awarded the Innovation Award from Michigan Credit Union League (MCUL) at the trade association’s annual convention.
LAFCU’s partnership with Perry first began through its school district, then by locating an interactive teller machine (ITM) in a local grocery to fill a need for financial services. MCUL judges noted that LAFCU “understands the needs of its community and works outside the box to find great ways to help see those needs are met.”
“We share this award with our amazing partners in the Perry community,” said LAFCU CEO Patrick Spyke. “They have welcomed us and provided an openness that allows us to make a difference. We didn’t set out to be innovative, per se. We just wanted to do the right thing.”
Installing an ITM at Carl’s Super Market in 2017 established a mini-branch for the Perry community. In addition to providing services traditionally offered by an ATM, an ITM also offers a direct link – via audio/video communication – to a teller located offsite.”
Through the Perry Public Schools, LAFCU focuses on helping offer real-world financial education opportunities to students and on sponsoring programs that create a more enriching educational environment.
LAFCU offers financial education programming, in-school branches operated with assistance from students, a Financial Reality Fair for sophomores, and sponsorship of a high school student-run coffee shop. LAFCU also helped Perry High School establish an activities conference and a scholar athlete recognition event for a group of seven high schools, and remains the group’s sole sponsor. In 2017, the credit union was the first to donate to the Perry High School band’s $80,000 fundraising campaign for new uniforms.
The MCUL Innovation Award annually recognizes three credit unions, based on asset size, for innovative thinking, action and community involvement. LAFCU received the award for credit unions with assets equal to or more than $400 million.