The first of its kind in Central Texas, the new UFCU Mobile Branch
takes financial products, services, education, and community
support to underbanked communities.
AUSTIN,
Texas, Aug. 5, 2024 /PRNewswire/ -- Today, UFCU
(University Federal Credit Union) kicks off its "Howdy Tour" and
launches its innovative new Mobile Branch, the first of its kind in
Central Texas. The UFCU Mobile
Branch is focused on increasing access in traditionally underbanked
communities.
A component of the company's ongoing efforts to provide access
to capital, education, and resources, the UFCU Mobile Branch
extends the credit union's financial products, services, and
educational resources to geographical areas with limited or no
banking presence, addressing critical issues of affordability and
financial inclusion.
The UFCU Mobile Branch will help bridge the financial services
gap for Texas' unbanked and
underbanked communities, which make up an estimated 24% of
Texas households, by delivering
vital financial services directly to underserved areas — in the
neighborhoods where they live and work.
Individuals without access to a credit union or bank are almost
ten times more likely to use check cashing than banked households.
The UFCU Mobile Branch enables Members to eliminate check-cashing
fees while also offering ATM access, account set-up, starter and
cashier's checks, instant-issue debit cards, money orders, fund
transfers, loan and credit card applications, loan payments, notary
services, and more. The UFCU Mobile Branch will also host
educational seminars and feature bilingual staff to serve
Spanish-speaking consumers.
By partnering with trusted community-minded organizations like
Foundation Communities and Equidad, UFCU leverages its established
relationships to gain a deeper understanding of the unique needs of
the communities they serve. This collaborative approach rooted in
long-term partnerships ensures that UFCU enters these areas with a
genuine desire to learn, serve, and create effective solutions.
"Working with our community partners, we are committed to
improving access to financial services for all Texans," said UFCU
CEO and President Michael Crowl.
"The UFCU Mobile Branch is a significant step towards addressing
the financial barriers traditionally underserved communities face.
We appreciate the support and trust of our partners and the
community as we embark on this important mission to ensure a
thriving Texas includes all
Texans."
In addition to serving underserved areas, the UFCU Mobile Branch
will support numerous UFCU efforts, including disaster recovery and
community engagement events like local festivals, university
sporting events, and partner endeavors. This presence at community
gatherings underscores UFCU's commitment to meeting its Members
where they are and fostering strong relationships with their
community partners.
"The UFCU Mobile Branch allows us to build relationships and
establish trust within these vital communities as we expand access
to financial services and promote financial education in a
convenient, accessible, and welcoming environment," said Executive
Vice President of Membership Chris
Turnley. "We're thrilled to premiere the UFCU Mobile Branch,
part of our overall effort to better serve and more deeply
understand the needs of our community members."
The unveiling event for the UFCU Mobile Branch took place on
Monday, August 5, 2024. It featured a
ribbon-cutting ceremony with UFCU executives and board members,
community leaders, and elected officials, including US
Representative Lloyd Doggett and
Austin Councilwoman Vanessa
Fuentes.
For more information about the UFCU Mobile Branch and its
services, please visit UFCU.org.
About UFCU
As a Member-owned, not-for-profit financial
cooperative, UFCU is passionate about helping Members improve their
lives. With more than 384,000 Members and $4
billion in total assets, UFCU offers a variety of products,
services, and education programs to empower Members in achieving
financial success. Learn more about UFCU
at UFCU.org, Facebook, X, and Instagram.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ufcu-launches-mobile-branch-to-enhance-inclusion-and-access-to-financial-services-302214089.html
SOURCE UFCU