Bishop Earl Boyea has blessed the Diocese of Lansing’s first-ever branch of the Notre Dame Federal Credit Union, a not-for-profit financial cooperative inspired by Catholic Social Teaching.
“We have more than 66,000 members worldwide, but we have a special friendship, a kinship, with the Diocese of Lansing, with Bishop Boyea, and with so many people in the different schools and the parishes across this diocese,” said the President and Chief Executive Officer of the Notre Dame FCU, Tom Gryp.
“So being able to actually open a branch, where we can provide localized service, is a continuation of that wonderful long-term relationship.”
The new branch of the Notre Dame FCU is to be found at 500 East Michigan Avenue, Suite 120, Lansing, just across the street from the city’s Lugnuts Baseball Stadium. The official opening of the office, April 8, included a rite of blessing performed by Bishop Boyea who also blessed and gifted a crucifix which will now grace the walls of the branch.
Founded in 1941, Notre Dame FCU has grown from its origins in the Administration Building at the University of Notre Dame and today serves over 900 affiliated groups including 38 parishes, schools, and other Catholic entities within the Diocese of Lansing.
“Our mission is to put people over profit — and that’s more than a slogan. It’s how we do business,” added Tom Gryp.
“For example, over the past three years we have given between 15% to 20% of our net profits back to the communities in which we serve. So, we retain enough profit to keep the doors open and be able to grow but, anything other than that, we give it back.”
As a token of that community re-investment, Notre Dame Federal Credit Union presented Bishop Boyea with a $500 donation to Stewardship for Saints and Scholars, the campaign for Catholic education in the Diocese of Lansing. Notre Dame FCU also offers other ways in which parishioners across diocese can earn money for their parish or school.
“There's one way where you do a “financial checkup”, that’s a 30-minute conversation with myself, or one of my staff, and we give $150 back to your parish or school – you don't even have to become a member,” explained Rachel Moreland, Central Michigan Market President for Notre Dame FCU.
“We also give 1% of every credit or debit card transactions back to your nominated parish or school, and then if you do a car loan, 1% up to $500 goes back to your parish or school.”
One notable local Catholic businessman who has already moved business and personal accounts to Notre Dame FCU is Steve Tennes, an organic apple farmer and owner of Country Mill Farms, Charlotte.
“Besides being a Notre Dame alumnus, I also found out how much they're actually doing for the community, as far as giving money back to local parishes and Catholic schools,” said Steve.
“Our family is trying to be more intentional about what we do and, so, when I found that out I actually closed one of our accounts at a national brand bank and switched to Notre Dame Federal Credit Union, not only for our business but for our personal account as well.”
Credit unions differ from banks and other financial institutions in that those who have accounts in the credit union are its members and owners. Hence, the credit union exists to serve members and the local community rather than shareholders.
Since the late 19th centuries, many advocates of Catholic Social Teaching have promoted credit unions as being in harmony with the Church’s teaching on subsidiarity leveraging, as they do, community-driven finance to serve the common good.
“We're Catholic because we try to put into action Catholic Social Teaching at a fundamental level,” concluded Tom Gryp.
“We try to be the hands and feet of Jesus, and we do that every day in a thousand little ways: treating people with respect, doing the things that other banks and credit unions may not do.”
* To learn more about the Notre Dame Federal Credit Union, go to: https://notredamefcu.com/
