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Missouri Credit Unions Join Forces for COVID-19 Financial Education

MISSOURI - June 3, 2020 - If ever there was a time to help communities become more financially literate, it might be during a global economic crisis, and a new grant from the Heartland Credit Union Charitable Foundation hopes to do just that.

The Heartland Credit Union Association is the trade association for credit unions in Kansas and Missouri. And its grant unites two Missouri credit unions with the goal of providing online financial literacy classes and remote one-on-one financial coaching to local communities.

The recipients – the $300 million, O’Fallon, Mo.-based West Community Credit Union and $319 million St. Louis Community Credit Union – will use the money to upgrade their technology to make the courses possible. They’ll work with Missouri nonprofit group Prosperity Connection for the programs, which include a second grant for the nonprofit’s RedDough Money Center to spend on advertising. RedDough is a nonprofit alternative to payday loan and check cashing centers aimed at helping communities become financially independent.

$1,235 went to West Community and $4,500 went to St. Louis Community.

The advertising grant will help spread the word to households about their financial options during the pandemic, according to West Community’s outreach specialist, Lori Hudson, who said she’s excited to partner up.

“This collaboration is a true example of the credit union cooperative spirit,” Hudson said in a press release. “Credit unions were built on this philosophy.”

It’s an opportune alliance, according to St. Louis Community SVP Dorothy Bell, who said, “Everyone deserves access to safe and trusted financial resources now more than ever.”

Heartland applauded the work credit unions are doing to support the public amid a global health and financial crisis.

“We are thrilled to be able to support innovative partnerships like this to address the urgent needs of those who are most vulnerable,” Andrea Robinson, executive director of the Heartland Credit Union Charitable Foundation, said.  


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