Tackling banking deserts one credit union initiative at a time
Published by: Heather Winner
December 18, 2024 | Ohio Credit Union Foundation
As the Ohio Credit Union Foundation wraps up another successful year of grant funding, we can’t help but reflect on the tremendous impact Ohio credit unions have on their communities. Since the fall of 2023, the Foundation has awarded more than $107,000 to credit union programs focused on financial literacy, access to financial services, and improving the financial well-being of members and the communities they live in.
Atomic Credit Union’s recent initiative to address a banking desert in its service area is a great example of the power of community partnerships. The credit had partnered with the Bloom-Vernon Local School District for several years, growing its student-run program in southeastern Ohio to 87 schools this year. The students learn the importance of finance and budgeting along with vital life skills as they manage transactions guided by Atomic staff, and deposit funds into their personal accounts. Recently, the school’s superintendent approached Atomic to ask if the credit union would help increase access to personal funds for school staff, students, and local residents. The South Webster area had a strong membership base, but there were no financial institutions within a 10–15-mile radius of the community. Recognizing an opportunity to provide a much-needed service, Atomic applied for a grant from The Ohio Credit Union Foundation to help fund an ATM on a centrally located school campus. They also partnered with contractors and school officials to navigate the necessary paperwork.
As Branden McGhee, Senior VP of Branch Operations at Atomic Credit Union, wrote, “one of the values we embody is genuine commitment to be an integral part of the social and economic well-being of the community we serve. The purpose of this grant request is to establish an outside, drive-up ATM in a community that is considered a banking desert.”
Twelve months later, that dream became reality. The project is off to a great start, with more than 1,500 transactions in the first two months. Member enrollment is up, and this active partnership opens the doors for Atomic Credit Union to reach and teach even more students and faculty members about financial responsibility. As an added benefit, Atomic built greater trust with its school partner and the ATM has become a source of school and community pride. It’s a great example of how Atomic Credit Union is investing in the communities they serve and the youth that reside there.
The Ohio Credit Union Foundation is committed to providing our members and the communities they serve with essential resources to rebuild and improve their financial well-being. Join us in 2025 and apply for funding for your high-impact ideas.
Contact Heather Winner for questions or assistance.
