When it comes to putting trust in banks/credit unions with your money or financial plans, there may be a lot of hesitation– Who do I trust? How do I apply? What do I apply to? Am I making the right decision? As much as we would like to believe everyone has your best interest in mind, it isn’t a myth that some bank/credit union employees treat their customers as transactions, judge them for personal financial decisions, or oversell unneeded services. We want our banks and credit unions to actually care about our concerns, not just use or shame us.

There are roughly 7.1 million American households that go “unbanked” each year. Although this number is decreasing annually, it has been noted that the biggest disparities come from income inequality and systemic injustices, but it is definitely not limited to those specific socio-economic populations. Families continuously going unbanked has led to generational distrust in financial institutions. This distrust has been created by financial institutions over many years and continues to be an issue with some financial institutions today.

Additionally, a study from George Washington University showed that only a quarter of millennials have basic financial understanding. This, plus financial trauma in impoverished/minority communities creates uneducated and ill-managed financial decisions. In today’s age, especially with the unknowns of post-pandemic life, it is extremely important to have a reliable bank/credit union for any of your financial needs.

Marine Credit Union diligently tries to earn customer trust with these guidelines above. We pride ourselves on providing help when others don’t. MCU is different because our employees are trained in Resilient and Trauma-informed courses. They go through extensive anti-bias training, empathy training and learn about motivational interviewing. We know that to tackle the issues of income inequality and systemic injustices, we need to have employees who understand how to talk to customers with financial trauma. “I have been a financial counselor for almost a decade and Marine Credit Union is a trail blazer when it comes to building trust and understanding their membership base,” said Majel Hein, MCU’s Senior Financial Literacy Counselor. “They are truly living up to their mission of taking members from a place of financial need to a life of ownership and giving back to their communities. This can ONLY happen when you address the root causes of financial stress and provide empathy from day one” (2021).

MCU also has many accessible services to help anyone in any financial situation. One of our unique services is called Get Credit. Get Credit helps people, well, get credit! This service is a simple way to build or rebuild credit while building up money at the same time. You can choose what amount you want to add to your account per month to pay, on-time. The monthly payments not only help your credit score grow but will also help your savings grow. After making 1 year of on-time payments, you will be eligible for a loan and have a higher credit score.

Another unique service is CoverIt. This service acts as a safety net to cover life’s unexpected ups and downs. When this service is added to your existing MCU checking account, you can receive unlimited access to a $50 grace zone that lets you breathe easily without the unwanted overdraft fees.