Business
UFCU Launches Mobile Branch to Enhance Inclusion and Access to Financial Services
The first of its kind in Central Texas, the new UFCU Mobile Branch takes financial products, services, education, and community support to underbanked
About this update from United Fire Group, Inc
[{"type":"text","content":"The first of its kind in Central Texas, the new UFCU Mobile Branch takes financial products, services, education, and community support to underbanked communities.\nAUSTIN, Texas, Aug. 5, 2024 /PRNewswire/ -- Today, UFCU (University Federal Credit Union) kicks off its \"Howdy Tour\" and launches its innovative new Mobile Branch, the first of its kind in Central Texas. The UFCU Mobile Branch is focused on increasing access in traditionally underbanked communities. \n\n \n \n \n \n \n \n\n \nA component of the company's ongoing efforts to provide access to capital, education, and resources, the UFCU Mobile Branch extends the credit union's financial products, services, and educational resources to geographical areas with limited or no banking presence, addressing critical issues of affordability and financial inclusion.\nThe UFCU Mobile Branch will help bridge the financial services gap for Texas' unbanked and underbanked communities, which make up an estimated 24% of Texas households, by delivering vital financial services directly to underserved areas — in the neighborhoods where they live and work.\nIndividuals without access to a credit union or bank are almost ten times more likely to use check cashing than banked households. The UFCU Mobile Branch enables Members to eliminate check-cashing fees while also offering ATM access, account set-up, starter and cashier's checks, instant-issue debit cards, money orders, fund transfers, loan and credit card applications, loan payments, notary services, and more. The UFCU Mobile Branch will also host educational seminars and feature bilingual staff to serve Spanish-speaking consumers.\nBy partnering with trusted community-minded organizations like Foundation Communities and Equidad, UFCU leverages its established relationships to gain a deeper understanding of the unique needs of the communities they serve. This collaborative approach rooted in long-term partnerships ensures that UFCU enters these areas with a genuine desire to learn, serve, and create effective solutions.\n\"Working with our community partners, we are committed to improving access to financial services for all Texans,\" said UFCU CEO and President Michael Crowl. \"The UFCU Mobile Branch is a significant step towards addressing the financial barriers traditionally underserved communities face. We appreciate the support...