Faith Credit Union celebrates new mobile app

James W. Wade III | 7/30/2014, 9:41 a.m.
Faith’s development activities include financial education, asset building, including Individual Development Accounts (IDA's), credit counseling and rebuilding, foreclosure prevention and ...
Faith United Community Credit Union celebrating the release of their new branch, a mobile app. Photo by James W. Wade III

Faith Community United Credit Union, Inc. recently held a two day outing to give back to the community who has help them over the years.

They also launched their new mobile phone application to their customers.

Faith’s Credit Union is located at 3550 East 93rd street and has been helping the community with many of their financial needs. “We believe in giving back to our customers, and for years we have been helping,” said Jacqueline Y. Moore acting CEO for Faith Credit Union.

Faith’s annual Community Day drew hundreds from around Cleveland to come celebrate and have food, fun and games. Faith is grabbing everyone’s attention as there are announcing the new branch office located in your Smartphone, tablet or computer.

The employee’s were dressed in the white T shirts with a picture of the mobile app on it while passing out information in the parking lot on 93rd. Moore wanted to take the advice from their long time friend and board secretary James Poole and do something for the community.

“I am having a great time out her at this event today, I have been a faithful member of this Credit Union for a long time,” said Cynthia Sullivan. Their customer service department was located inside of the building helping to sign up anyone for the mobile app.

Faith was chartered in 1952 by the State of Ohio as Mount Sinai Baptist Church Credit Union to serve the members of one inner city church. After saturating the membership and realizing the broader need for the services by the low-income target Population (LITP), in 1991 Faith became a Community Development Credit Union (CDCU) focused on serving low income residents of Cuyahoga County. The credit union's mission statement reflects that status as a CDCU is central to their identity and guides the policies of the credit union.

“Faith Community United Credit Union maintains the credit union’s long-term financial stability and fosters the credit union's philosophy of people helping people by initiating partnerships with other institutions including credit unions, churches, the Ohio Credit Union League, said acting CEO Moore.

This Credit Union has been a stable in the community and may be well know from one of the former directors Rita Haynes. Haynes recently won the 2014 Annie Vamper Helping Hands Award for 50 years of service to Faith Community United Credit Union in Cleveland, OH and to the credit union community.

Faith is a financial cooperative owned by its members who live/work/worship in Cuyahoga County, Ohio. It exists for the financial benefit of the membership and community at large.

The credit union's focus on community development emerged when the savings and loans closed in the minority neighborhoods in 1989. The credit union became the only viable provider of financial products to the LITP. Remarkably, one year after obtaining its community charter, Faith reached self-sufficiency.

Faith moved from an office in the church basement to a donated abandoned bank branch building. Initially, Faith operated with an all-voluntary staff with $100,000 in grants and operational subsidy. In one year, Faith operated with no outside funding and paid staff. Since then the credit union has operated with sophisticated management staff, over 50 volunteers and as many as two VISTA interns.