The biggest question at the Credit Union always seems to be, "What does Alternatives mean and why should I bank here?" Many bank at Alternatives because of our community focus and social change philosophy, while others have chosen us simply for our services. Our social mission is integrated into our economic mission, so for whatever reason, joining Alternatives is making a choice towards a more economically just community.
Alternatives Federal Credit Union is no ordinary financial institution. We are a Community Development Credit Union (CDCU), member-owned, locally controlled and self-supporting. Our purpose is to meet the financial needs of the members of our community. We believe that by controlling the flow of funds within a small community, the community can build itself to suit its needs and be more self-reliant.
We take pride in our services, policies, and procedures because they contribute to a better society, a healthier community or a financially sound member. Some of our more innovative programs include: Individual Development Accounts (IDAs), Business CENTS (our small business development program), Student Credit Union, the Free Tax Preparation Program, lending for minority and women-owned businesses, affordable mortgages, and much more.
Your gift to Alternatives Impact helps our community!
The Credit Path
As Alternatives Credit Union has grown and changed, our use of the Credit Path model of financial empowerment has changed as well. Originally developed by Bill Myers as a way of understanding our members' financial situations and incorporating that into our business planning, the Credit Path describes where people are situated at various points along a continuum between poverty and self-sufficiency. Our job, as a community development financial institution, is to help our members move along that continuum by empowering them to make decisions, and offering opportunities, that will move them towards financial self-sufficiency.
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