Rio Grande Credit Union Honored With the Louise Herring Award

Rio Grande Credit Union Honored With the Louise Herring Award

Albuquerque, New Mexico. – Rio Grande Credit Union received runner-up nationally for the Louise Herring award for its outstanding support to member service and local New Mexico communities.
Rio Grande Credit Union was honored with the Louise Herring Award for its Prosperity Kidstm Program. The Credit Union partnered with Prosperity Works to assist families with opening Child Savings Accounts (CSA’s) and Emergency Savings Accounts (ESA’s). The program teaches children and their families how to save money and prepare for college. Since its inception there have been 513 Prosperity Kids accounts opened and more than a hundred savings accounts for their parents.

The Louise Herring Award is presented by the Credit Union National Association (CUNA) to award Credit Unions for programs or policies that demonstrate their commitment to the practical application of the “People – Helping-People” philosophy. Rio Grande Credit Union is the first Credit Union in New Mexico to be recognized at a national level with the Louise Herring Award.

Ona Porter, CEO of Prosperity Works remarked, “It is humbling experience to receive recognition along with our partner (RGCU) as we strive to provide assistance to our community not just through financial services, but through each and every interaction we have with the communities that we serve. Access to the Prosperity Kidstm accounts and services of the RGCU is a critical opportunity for families that most have not previously had.”

The Credit Union has received multiple designations for its history of serving the under-served, such as becoming a CDFI (Community Development Financial Institution), Minority Deposit Institution, and the Juntos Avanzamos and Low-Income designations.

“It’s important for New Mexicans to know that they have a local financial institution that is committed to increasing member financial literacy, and providing products and services that offer a better alternative to big banks, payday lenders, and cash advance storefronts,” said Chris Fitzgerald, President/CEO of Rio Grande Credit Union. “With receiving this new award and along with our other designations, it’s another reminder to get your money out those organizations that are not committed to community and service.”

For more information about the products and services offered by Rio Grande Credit Union, visit riograndecu.org

Rio Grande Credit Union is a not for profit financial institution started by the City of Albuquerque employees over 60 years ago. Rio Grande Credit Union operates 6 branches throughout Albuquerque and holds over $280MM in assets. The credit union was recently recognized the healthiest financial institutions in New Mexico according to depositaccounts.com. Anyone living or working in Bernalillo or Sandoval County may join.

 

Who was Louise Herring?

Louise Herring was an active supporter, organizer, and champion of credit unions.  She was the Ohio delegate to the 1934 national credit union conference in Estes Park, CO where she signed the original constitution for a national credit union association.  Louise believed that credit unions should work in a practical manner to better people’s lives.  She saw the credit union as more than just a financial institution.  In her own words, “the purpose of the credit union is to reform the financial system, so that everyone can have his place in the sun.”