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The Leaders Network and Great Lakes Credit Union Celebrate Grand Opening of New Branch in Chicago’s Austin Neighborhood
NewsJune 27, 2024
CHICAGO, IL. (June 27, 2024) – On June 26, Great Lakes Credit Union (GLCU) and The Leaders Network celebrated the grand opening of the Leaders Network Financial branch of GLCU in Chicago’s Austin neighborhood. The Leaders Network Financial location is the first credit union to open its doors in Austin, which has long been considered a financial services desert.
The Leaders Network, a group of multicultural, interfaith, and community leaders, worked with the Illinois Credit Union League (ICUL) to identify the most sustainable way to bring a financial institution to Austin. The ICUL introduced The Leaders Network to GLCU and in late 2022, the two organizations entered into a partnership agreement to bring a credit union to Austin. The Leaders Network chose to partner with GLCU because of their shared values and focus on financial empowerment and community development.
The grand opening event celebrated the hard work that was needed to bring a full-service credit union to the Austin neighborhood. Before the branch opened, Austin residents had to rely on currency exchanges and predatory payday lenders to get by or leave their community for financial services.
“This is the beginning of our journey to financial freedom on the West Side of Chicago,” said David Cherry, president of The Leaders Network.
“The branch is a beacon of hope for our community,” said Pastor Ira Acree, a co-founder of The Leaders Network. “It will provide economic opportunity for all, regardless of background.”
The Leaders Network Financial branch of GLCU offers essential consumer and business banking services, laying the foundation for financial and economic empowerment in the Austin neighborhood and beyond. The branch will bring access to financial education that has historically been out of reach, creating economic opportunity for Austin residents and the larger West Side community.
The Leaders Network Financial branch of GLCU offers free HUD-certified financial and housing counseling to members and non-members in the community, including first-time homebuyer education, budgeting assistance, and more.
About Great Lakes Credit Union
Founded in 1938 and headquartered in Northern Illinois, Great Lakes Credit Union is banking for a greater good. As a not-for-profit financial cooperative with over $1.5 billion in assets, GLCU is proud to serve around 95,000 members in Chicagoland and surrounding areas, and to give back to its members and communities through education, volunteerism, and partnerships. Learn more about GLCU’s accounts, educational initiatives, and community development programs at www.glcu.org.
About The Leaders Network
The Leaders Network, established in 2006, is a collaborative of multicultural, interfaith and community leaders working together to organize, strategize and mobilize to improve the quality of life for West Side communities and Greater Chicago. Because all people are valuable, we are committed to social justice and disaster relief both locally and globally. Our vision is to create flourishing communities with independent leadership, economic justice, and equal educational opportunities for all.