REGULATING AGENCY: Missouri Division of Credit Unions
LEAGUE: Heartland Credit Union Association
PRIVATE SHARE INSURANCE: No
STATS: (As of Q4 2021)
Total Number of Credit Unions: 103
- TOTAL # SCUs: 91
- TOTAL # FCUs: 12
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 88%
Total Assets: $21,723,718,674
- TOTAL $ SCU ASSETS: $20,414,732,615
- TOTAL $ FCU ASSETS: $1,308,986,059
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 94%
Total Members: 1,716,353
- TOTAL Members SCUs: 1,593,862
- TOTAL Members FCUs: 122,491
- SCU % OF TOTAL (SCUS/STATE TOAL): 93%
FUN FACT: At the St. Louis World’s Fair in 1904, the ice cream cone was invented. An ice cream vendor ran out of cups and asked a waffle vendor to help by rolling up waffles to hold ice cream.
February 14, 2022 – For seven years, the College Kids Program has been automatically opening savings accounts for every incoming kindergartner in the St. Louis City Public and charter school district. Each year, new incoming students are told they have been given access to a college savings account, which when they graduate will help them toward their next step of higher education, setting an expectation from the first day of school that college is within reach. Alltru Credit Union, a founding partner with the College Kids program and the City of St. Louis Office of the Treasurer, has just successfully opened the 20,000th account for the program, which studies have shown, can help build expectations for higher education and positive, lifelong financial habits.
“Alltru works every day to strategically break down barriers to banking so that more families can build sustainable, generational wealth” said Tracy Verner, Community Development Manager at Alltru Credit Union. “From the day we learned about this program in 2014, it was clear to see that College Kids was in alignment with our core values and our mission to create wealth and credit building opportunities in the communities we serve. This program was strategically and thoughtfully designed to elevate the trajectory of all who attend St. Louis Public Schools, and we are dedicated to making sure it will create a path towards financial security for every family in the district. As a St. Louis Public School alum, I am extremely proud of this work and I don’t love any part of my job more than when I am teaching our College Kids about how to save money or helping a parent access a credit building loan.”
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