CUNA’s New Strategic Services Alliance Supports Diverse Communities
CUNA Strategic Services (CSS), a company majority owned by CUNA and state credit union leagues, has formed an alliance with CNote, a women-led social enterprise and community investment technology provider, announced Wednesday CSS.
The alliance aims to increase the flow of long-term, flexible and community-oriented deposits from non-members to CUNA member credit unions, according to CSS. Capital commitments made through CNote will also foster diversity and inclusion by channeling deposits to credit unions with the largest capital shortfalls, providing the funds they need to expand loans and offer construction services. credit and education to members, CSS said.
CNote’s technology enables individuals and large institutions such as Mastercard, PayPal and the Sierra Club to provide cash investments to participating credit unions through the organization’s CNote Promise account. Beneficiaries of credit unions can increase incoming capital and are not charged a fee to participate, CSS said. Additionally, CNote helps foster relationships between investors and credit unions that can lead to new investments, grants, membership, partnerships and media opportunities.
“Credit unions have been community leaders for years. Our work with CNote and its diverse base of business impact investors means that credit unions can significantly expand their economic mobility work and gain access, free of charge, to a new base of priority impact deposits, ”said the President. from CSS, Barb Lowman. “This new alliance with CNote will create greater financial inclusion across the country that far exceeds any monetary value – it’s just the right thing for our movement to do.”
CNote CEO Catherine Berman said, “We believe credit unions are essential to closing the wealth gap in the United States, and we look forward to connecting with these inspiring, mission-driven institutions across multiple regions. fronts. I couldn’t be more enthusiastic about creating greater visibility and greater investment for credit unions and their members.
Credit unions can contact CSS to learn more through the online form here.