Truliant Launches Financial Education Fund to Celebrate Milestone
Release date: 7/18/2016
Winston-Salem, N.C. (July 18, 2016) Truliant Federal Credit Union is pleased to announce that in celebration of reaching the 200,000 member-owner milestone it is launching the Truliant Financial Education Fund to provide school systems in its communities with $200,000 for financial literacy education.
The credit union also reached another milestone in 2016. In just over a decade, Truliant has grown from about $1 billion in assets to surpassing $2 billion in assets.
“It’s wonderful that we’ve grown in membership and asset size since 1952, but what really matters is that we’ve helped our 200,000 members build stronger financial foundations to improve their lives. The metrics are a reflection of our members’ acknowledgement of the value that we have provided to them and their families,” said Marc Schaefer, president and CEO of Truliant.
“By reaching a larger scale, we are able to include more households and communities as we provide the technology, locations and, most importantly, the thoughtful guidance that keeps our members’ best interest at heart and enables us to make a real difference in their lives,” Schaefer said.
To put both its membership and asset growth into perspective, of 6,000 federally-insured U.S. credit unions, Truliant is now 68th by membership size and 104th by asset size, according to the Credit Union National Association (March 2016).
Truliant, a regional credit union, will soon have a total of 33 Member Financial Centers in North Carolina, South Carolina and Virginia. Of these 33 locations, 14 are in the greater Charlotte area and 13 are in the Piedmont Triad. Since 2014, the credit union has added two new locations in the Piedmont Triad and eight new locations in the greater Charlotte area dotting the I-485 corridor. An additional two will be completed in Charlotte by the end of 2016.
Truliant’s continual membership growth, up nearly five percent in 2015, is a product of its expansion and the demand for better banking options in its member-owner communities. Truliant is the third largest credit union and the 14th largest financial institution in North Carolina.
“With growth, Truliant can provide the latest in mobile technology along with thoughtful in-person guidance at additional, convenient locations along with great rates on savings and investments, all types of loans, and low fees.” Schaefer said.
“We’re excited to be able to bring the benefits of a member-owned, not-for-profit financial cooperative to even more people in the communities we serve,” he added.
The Truliant Financial Education Fund will offer financial education grants to school systems where the credit union has Member Financial Centers. Teachers from eligible districts will be able to submit funding requests for projects that advance financial literacy. The credit union will distribute funds to winning projects through 2020.
Schaefer said Millennials seem to understand that they need to actively work with a trusted partner to learn how to proactively design their financial futures.
“Often burdened with college debt and eventually wanting to start a family, buy a home and maybe even start their own business, having a foundational understanding of money is essential,” Schaefer said.
The credit union will open the application period for the first grant cycle on August 1, 2016.
Further celebrating the achievement, the credit union is offering special give away items at its Member Financial Centers during the week of July 18 for Truliant Member Appreciation Days.
About Truliant Federal Credit Union
Truliant Federal Credit Union is a mission-driven, not-for-profit financial institution that promises to always have its member-owners’ best interest at heart by improving their lives through providing financial guidance and affordable financial services. Truliant was chartered in 1952 and now serves more than 200,000+ members and currently has 31 Member Financial Centers in North Carolina, South Carolina and Virginia. For more information on Truliant Federal Credit Union, visit www.truliant.org.
FOR MORE INFORMATION, CONTACT:
Contact: Heath Combs
(o) 336.293.2054 (c) 336.442.5736