Michigan Credit Union League Home » Three Tiered Advocacy » Community Reinvestment Initiative » About the Community Reinvestment Initiative (CRI)

Contacts Martha Ninichuk, Director of Cooperative Initiates CRI Links Background Credit Unions CRI Grants Methodology

About the Community Reinvestment Initiative (CRI)

Raising our social mission to a strategic level

Community involvement is nothing new to credit unions. Since the credit union movement began in Michigan some 80 years ago, credit unions have engaged in any number of activities that enhance their communities, whether holding financial education seminars, selling raffle tickets to support local charities, holding flu immunization clinics or countless other outreach activities. Michigan credit unions are socially and economically embedded in their neighborhoods, and together, they’re helping create stable and thriving communities.

The Credit Union Social Mission is the impetus behind community involvement. It’s what compels credit unions to reach beyond the confines of their membership to positively impact society at large, including people of modest means.

Broadly speaking, CRI has challenged credit unions to elevate that social mission to a strategic level, to make community involvement standard operating procedure. Such a strategy communicates clearly a credit union’s commitment to their neighborhoods and communities, builds consumer awareness and community good will, and finally helps protect the status of credit unions as not for profit financial cooperatives.

CRI is good for credit unions, it’s good for consumers and it’s good for Michigan.

CRI/Future Vision Committee

In order to obtain credit union input and support, the MCUL relies on the CRI/Future Vision Committee.  The CRI/Future Vision Committee is charged with planning and implementing cooperative efforts within the credit union community along with other groups to expand credit unions’ community outreach efforts and document their good works for purposes of communications with lawmakers and the general public.  There are three councils within the CRI/Future Vision Committee. The councils and their assigned responsibilities are as follows:

Economic Solutions Council

• This Council will focus on researching, developing and implementing new lending programs what will help credit unions individually and collectively respond to major economic challenges.

The Council will also gather examples of best practices by individual credit unions for lending programs that demonstrate credit unions commitment to offering non-traditional lending programs.

Financial Education Council

• This council will foster and highlight consumer financial education activities by credit unions for their members and the communities they serve.
• The Council will work to expand credit union commitment to financial education by assisting credit unions with adult and  youth financial education activities and resources including classroom presentations and student branching.
• The Council will also assist the MCUL with showcasing best practices in financial education by credit unions.

Modest Means Council

• This Council will focus on the implementation of and expansion of cooperative credit union programs that focus on lower income demographics and alleviating poverty.
• Examples would include the MCUL “Just file it! We’ll help.” program. The Council will also coordinate efforts and showcase best practices with low-income designated credit unions and community development credit unions.