Local Credit Union Awarded Grant to Expand Efforts to Support Local Businesses and Help their Workers Improve Financial Health
(Bradenton, FL) Founded in 1958, Financial Access Federal Credit Union is a Treasury Certified Community Development Financial Institution and the only Credit Union chartered in Manatee County. This month, under the leadership of CEO Sherod Halliburton, the Credit Union has been awarded a $50,000 grant from the National Credit Union Administration.
This grant was awarded to Financial Access to support the development of an Employee Financial Empowerment platform designed to provide local businesses a no-cost benefit that can be used as a recruitment and retention tool, providing the workers of the Credit Union’s employer partners an opportunity to improve their financial health. This includes: helping employees grow credit scores; offering emergency loans to credit challenged employees; and providing access to below market auto and other loan products for employees. This offering will target employees that may have not otherwise qualified for a loan along with providing below market rates for financially stable employees. Financial Access will be providing resources to help employees with their understanding of personal finance and credit, helping employees grow their credit score and helping them gain access to low-cost loans.
“Providing resources that strengthen our workforce while building the financial capacity in workers is a long-time passion of mine and this grant allows us to help to improve the financial health of workers while supporting employee retention efforts for our local business partners”,
Halliburton stated.
Mireya Eavey, founding Executive Director of CareerEdge, will spearhead the new program as part of her role as the Credit Union’s newly appointed “Business Development Officer”. “Financial and housing instability are top issues faced by individuals coming from underserved communities — these issues often lead to workers having to quit and relocate and companies lose out on top talent. This grant allows the Credit Union to offer a solution that gives companies a no cost, value add incentive that will assist them in retaining and attracting skilled workers” Eavey said.
CareerSource Suncoast will partner in these efforts, marketing the program and its benefits to their employer partners. “CareerSource Suncoast is proud to partner with Financial Access Federal Credit Union in bringing this opportunity to local businesses,” said CEO Josh Matlock. “By providing local employers and their employees financial access, we will help them recruit, train, and retain local workers.”
If you’re a business looking to take advantage of this program, please contact Mireya Eavey for more information at: meavey@financialaccessfcu.org
