COMMUNITY
IMPACT
REPORT
We are thrilled to share with you, our owners, the Alltru Credit Union 2023 Community Impact Report.
You are an owner.
As an owner of this institution, your success aligns with ours! It’s essential for you to understand the positive influence your investment in Alltru has on your local community. Each quarter, we furnish reports to our CDFI Advisory Board and Board of Directors, outlining the impact of our endeavors. And we’re excited to extend this information to you, our valued members!
The journey ahead is overflowing with opportunities, and we urge you to remain engaged. Share the story of our collective achievements and enlighten others on how their investment in an Alltru checking, savings, or loan product holds the potential to make a meaningful impact on their community. Together, we can continue to create positive change.
Alltru is proud to be a CDFI.
What does CDFI mean?
Alltru Credit Union proudly holds the certification of being a Community Development Financial Institution (CDFI). This underscores our commitment to assisting individuals in realizing their financial aspirations by offering accessible financial tools to the communities of St. Louis that we proudly serve. Our approach to this mission encompasses various strategies:
Strong partnerships with effective nonprofits and government programming
Certified financial counseling to people experiencing low-income and credit challenges
Providing access to affordable banking and lending products
Partnership.
Numerous neighborhoods across St. Louis find themselves without convenient access to bank or credit union branches. In our dedication to establishing a presence in these underserved communities, Alltru has forged partnerships with local nonprofit organizations and programs. This collaboration ensures that financial stability becomes a tangible possibility for all.
Kenneth & Stephanie
Financial Empowerment Coordinators
It brings us immense pride to collaborate with the Office of Financial Empowerment and Justine PETERSEN, who graciously open their doors for Alltru to assist their clients. Together, we engage in a collaborative effort to deliver comprehensive financial capabilities programming. Our dedicated Financial Empowerment Coordinators operate within their premises, ensuring that clients receive valuable services seamlessly.
Our 2023 Stats:
286
Nonprofit Clients Added as New Members
321
Nonprofit Clients Given Free 1-on-1 Counseling
$761,983
Loans Deployed to Nonprofit Clients
College Kids Program.
Since 2014, Alltru has opened over 23,000 savings accounts for incoming Kindergarteners in the City of St. Louis in partnership with the College Kids Program.
In 2023, College Kids families increased their college savings balances by $58,817 to a total of $414,587, set aside only for college or trade school at the time of high school graduation.
This program is shifting the conversation of higher education all over the city of St. Louis. We are so proud to support this program and the families served by the College Kids office.
Access.
We are actively disrupting this cycle by facilitating access to those who need it most. In our capacity as a certified Community Development Financial Institution (CDFI), Alltru remains steadfast in its commitment to eliminating barriers of accessibility for every community and household in St. Louis City, St. Louis County, and St. Charles County. We firmly believe everyone deserves a secure means to bank and borrow money irrespective of socio-economic status. Alltru diligently endeavors to construct bridges toward financial stability for all.
2023 Low-Income Products Deployed
Furthermore, in 2023 alone, we extended $37,001,908 in loans to individuals with
credit scores of 660 and lower, amplifying our impact on the community.
Service.
Volunteering.
Every Alltru employee is granted 8 hours per month of paid volunteer time, empowering us to actively contribute to our communities by volunteering with local nonprofits. While we provide small-dollar grants and support our partners through programming, we also believe in being hands-on. We encourage all our employees to participate in the cooperative’s success and contribute to their community’s well-being.
446
HOURS
In 2023, Alltru employees spent 446 hours volunteering at local nonprofits
All these efforts aren’t driven by high profitability but by recognizing their necessity and the inherent rightness. It’s about investing our time and energy in the right way.
We express gratitude to you for being an owner of Alltru Credit Union and for investing in tangible change for our communities.
Explore more about your membership and our collective community impact:
Let’s Talk
We’re in your neighborhood.
We are St. Louis, through and through. We have branches throughout the metro area. Plus, as a member you’ll have free access to hundreds of local ATMs.