SNELLVILLE, GA – The African-American Credit Union Coalition (AACUC) announced a groundbreaking investment program – the Future Fund – during its African American Credit Union Hall of Fame, where five industry leaders were inducted at the Organization of American States Building in Washington, D.C. during the Governmental Affairs Conference.

The Future Fund is designed to propel the AACUC into a future of sustained impact and influence, especially in communities typically underserved in banking and finance, and is predicated on three consequential pillars:

• Internships and leadership development by building a succession pipeline for the credit union system, while securing the legacy of mentorship and professional development AACUC has established.
• Small credit union sustainability by ensuring the viability and vibrancy of the credit unions that are at greatest risk of mergers, acquisition and member attrition.
• Wealth building and community impact programs by supporting credit unions to establish and sustain initiatives that improve financial access, inclusion and well-being for communities of color.

“The strength of our future is measured by the leadership we provide today,” said Bill Cheney, Future Fund Honorary Chair and SchoolsFirst Federal Credit Union CEO. “Our support of the AACUC Future Fund will secure and strengthen the vital role credit unions play in helping Americans thrive and attain financial well-being.”

SchoolsFirst Federal Credit Union, a forward-thinking industry leader, is one of nine initial investors boldly supporting the Fund. They include:

• BECU
• Educational Systems Federal Credit Union
• Greylock Federal Credit Union
• National Association of Credit Union Service Organizations (NACUSO)
• Navy Federal Credit Union
• SchoolsFirst Federal Credit Union
• TruStage
• Visions Federal Credit Union
• VISA

Many of these investors are AACUC Corporate Partners, organizations pledging multi-year financial and in-kind support for AACUC’s operations. One of AACUC’s newest and second all-time Diamond Level Corporate Partners Navy Federal Credit Union pledged $250,000 to the organization earlier this year.

Recently, at a meeting at AACUC headquarters, a special award was presented to Mary McDuffie, the now retired president and CEO of Navy Federal Credit Union. Also recognized were members of Navy Federal’s executive leadership team, Keith Hoskins and Brittani Ivey. “The exemplary leadership and vital participation of our dear friend Mary McDuffie cannot be overlooked in this pivotal moment,” said Renée Sattiewhite, AACUC President/CEO. “We are eternally grateful to Mrs. McDuffie and the entire senior leadership team at Navy for taking this journey with AACUC.”

As a bold, transformative funding source, the Future Fund is intended to ensure the organization’s long-term strength and sustainability regardless of industry trends, economic downturns and socio-political headwinds. In addition to supporting and expanding crucial programming that addresses the racial wealth gap, preserves small credit unions, lifts up low-income communities and spreads financial access and inclusion to the underserved, the Future Fund creates an operating reserve that will ensure the continued reach of AACUC across the credit union movement, which has been paramount for AACUC’s leadership.

“It is imperative that we acknowledge the vision and leadership of many past and present AACUC board members and our key partners across the credit union movement,” said Sattiewhite. “Specifically, we express our gratitude to AACUC corporate partners and supporters who have already pledged or invested in the AACUC Future Fund and made our announcement possible.”

Leadership to steer the Future Fund in such a way where the program is compelling, consequential and compliant was a high priority for the nonprofit association. AACUC named the following key advisors, influential leaders and stakeholders to the Future Fund Committee:

• Bill Cheney, AACUC Future Fund Honorary Chair, CEO of SchoolsFirst Federal Credit Union
• Ty Muse, AACUC Future Fund Chair, President/CEO of Visions Federal Credit Union
• Whitney Anderson, AACUC Board Chair
• Tracey Jackson, AACUC Vice Chair, CFO of Resource One Credit Union
• Marvin York, AACUC Treasurer, VP Contact Center Member Engagement at PSCU
• Adrian Johnson, AACUC Board Member, EVP/CFO of MECU Credit Union
• Denise Huginnie, Senior Advisor to AACUC
• Tom Mayhew, Senior Vice President at National Cooperative Bank
• Jason Haley, Chief Investment Officer at ALM First Financial Advisors
• Tony Kitt, President/CEO of Plexcity

“I want to acknowledge my heroes Bill Cheney and Ty Muse for serving as the Honorary Chair and Chair, respectively, of the AACUC Future Fund,” said Sattiewhite. “This could not have been possible without the members and key advisors for the Future Fund Committee.” 

More information about the AACUC Future Fund and the AACUC Impact Portfolio is available at www.AACUCImpact.org.

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About the AACUC Future Fund:

The AACUC Future Fund is a transformative funding source created to ensure the long-term strength and sustainability of the AACUC regardless of industry trends, economic downturns and socio-political headwinds. The Future Fund helps support and expand crucial programming that addresses the racial wealth gap, preserves small credit unions, lifts up low-income communities and spreads financial access and inclusion to the underserved. The Future Fund also creates an operating reserve that will ensure the continued reach of AACUC across the credit union movement for the foreseeable future. Learn more at: www.AACUCImpact.org or FutureFund@aacuc.org.

About the African-American Credit Union Coalition

The AACUC is a 501c3 non-profit organization created in 1999 to increase diversity within the credit union community through advocacy and professional development. A recipient of the 2022 Anchor Award from the National Credit Union Foundation for its leadership and global efforts unifying financial industries in eradicating racism amid the COVID-19 pandemic and social unrest in 2020, AACUC has become an all-encompassing organization for executives, professionals, volunteers, consultants and regulators within the financial services industry. AACUC is considered a leader in the credit union movement, adopting the 8th Cooperative Principle (Diversity, Equity and Inclusion) and enabling credit unions to become more diverse and inclusive. Learn more at www.aacuc.org or on social media at Facebook.com/AACUC1, Linkedin.com/company/AACUC, X.com/AACUC1 or Instagram.com/aacucctc.