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La Capitol Receives Grant to Expand Outreach and Education

La Capitol Federal Credit Union has been awarded a grant from the National Credit Union Foundation to identify specific member and employee financial needs and employ solutions that bolster financial well-being individually and in groups.
 
NCUF leads the industry in funding education and grants designed to aid credit unions as they seek to understand the communities they serve. La Capitol is one of several grant recipients who will share a grant pool of more than $600,000. This funding includes access to industry-leading programs, data analysis, and consultations provided by Attune Insights and Coopera Consulting, two organizations renowned for their leadership in multicultural inclusion and financial health.
 
La Capitol will use Coopera Consulting’s tools, including Ethnicity Segmentation Analysis, for tracking membership demographics and the Organizational Equity Assessment (OEA). They will also collaborate with Attune Insights to measure the financial health of employees and members, gaining valuable data-driven conclusions.
 
“This opportunity not only enhances the ability of credit unions to understand the unique financial challenges facing their members, but also underscores their commitment to fostering an environment where everyone can thrive financially,” NCUF Financial Health Program Senior Manager Christine Hickey said.
 
La Capitol’s winning proposal focused on meeting member needs and producing resources for Hispanic and Latino communities. Moving forward, the credit union hopes to establish a framework for better serving other demographics across Louisiana.
 
The 2020 U.S. Census highlights a growing need in Louisiana. The Hispanic population, at 18.7 percent, is the second-largest state demographic and there are more than 322,500 Hispanic Louisianans. Nearly 85,000 Hispanic people moved to Louisiana between 2000 and 2010; without those residents, the state would have shrunk by about 20,000 people.
 
La Capitol CEO and President Michael Hooper initiated the NCUF grant effort after realizing the unique opportunities for members and the credit union. “The information gathered will serve as a solid foundation which we can build from year to year,” he said. “Any resources developed would be integrated into standard Marketing and Sales collateral, and that library could be expanded over time to address growing needs.”
 
The grants were opened to credit unions with 10 or more employees and assets ranging from $300 million to $1 billion. The projects underscore the importance of assessing the roles of culture, race, and ethnicity in financial well-being.