WASHINGTON–Visions Federal Credit Union said it has made a contribution to the Future Fund created by the African American Credit Union Coalition.
As CUToday.info reported earlier, VFCU President/CEO Ty Muse joined credit union industry leaders during the African American Credit Union Hall of Fame event at the Governmental Affairs Conference to announce the fund.
Visions is one of nine initial investors in the new fund.
“I want to acknowledge my heroes (SchoolsFirst FCU CEO) Bill Cheney and Ty Muse for serving as the Honorary Chair and Chair, respectively, of the AACUC Future Fund,” said Renée Sattiewhite, AACUC president/CEO. “This could not have been possible without the members and key advisors for the Future Fund Committee.”
According to the AACUC, the Future Fund is designed to propel the organization into a future of sustained impact and influence, especially in communities typically underserved in banking and finance, and is predicated on three consequential pillars:
- Internships and leadership development, by building a succession pipeline for the credit union system, while securing the legacy of mentorship and professional development which AACUC has established.
- Small credit union sustainability, by ensuring the viability and vibrancy of the credit unions that are at greatest risk of mergers, acquisition, and member attrition.
- Wealth building and community impact programs, by supporting credit unions to establish and sustain initiatives that improve financial access, inclusion, and well-being for communities of color.
“As a bold, transformative funding source, the Future Fund is intended to ensure AACUC’s long-term strength and sustainability regardless of industry trends, economic downturns, and socio-political headwinds,” the AACUC said.
Added Muse, “The important work being done by AACUC and the sustaining presence of the Future Fund will be life-changing for people of all backgrounds and races. Together, we’re supporting small and large credit unions throughout the country and ensuring financial access for millions of underserved and low-income communities.”