Global Credit Union Serves Communities from Alaska to the World

Global Credit Union has been serving communities for over 70 years, with a presence that spans from Alaska to the world. They have a strong commitment to financial education and community development.

Their headquarters is located in Anchorage, Alaska, where they began serving the local community in 1953. They have since expanded to serve members in over 40 countries.

Global Credit Union is a member-owned cooperative, meaning that their members have a say in how the credit union is run. This model has allowed them to maintain a strong focus on serving their members' needs.

Their mission is to help people achieve their financial goals and improve their lives, which is reflected in their wide range of financial services and products.

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The League of Credit Unions has launched an office to support small institutions, specifically those with $150 million or less in assets.

This effort is a significant step forward for small credit unions, providing them with the resources and guidance they need to thrive.

The League of Credit Unions is focusing on credit unions with $150 million or less in assets, which is a crucial segment of the industry.

By supporting these small institutions, the League of Credit Unions is helping to ensure their long-term viability and continued service to their members.

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Credit unions have been fighting against a specific rule that's been a point of contention. Lawmakers have introduced an action to dismantle this rule, which has been a long-standing issue for credit unions.

The rule in question is the CFPB overdraft rule, which has been a target of criticism from credit unions. This rule has been a source of frustration for many credit unions.

The introduction of this action to repeal the rule is a significant development, and credit unions are likely to welcome this move. Credit union and financial groups have been vocal in their support of repealing this rule, and it's clear that they see this as a positive step forward.

The Washington Bank Acquisition is a significant deal that has made headlines in the financial sector. Global Federal Credit Union is buying First Financial Northwest Bank for $231.2 million in cash.

The acquisition represents the largest bank to be bought by a credit union, with Global paying $231.2 million in cash for the $1.5 billion asset First Financial Northwest Bank. This deal is expected to be completed in the fourth quarter of 2024.

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The bank's holding company, First Financial Northwest, plans to dissolve after the deal's completion, with shareholders entitled to approximately $23.18 to $23.75 per share upon liquidation. This transaction will provide substantial value to the shareholders who have supported the bank over the years.

The acquisition will create one of the largest financial institutions in the region, with numerous benefits for customers, communities, and employees. It will also enhance service delivery and growth in the market that Global has been operating in for over four decades.

The deal is the first whole-bank acquisition announced by a credit union in 2024, but it's not the only one. All In Credit Union in Daleville, Alabama, has agreed to acquire five branches from Louisville, Alabama-based 22nd State Bank.

There were 11 credit union deals for whole banks last year, down from the 16 announced in 2022 but still up from the tepid pace of dealmaking from five years ago.

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Credit unions and financial groups are celebrating a move to repeal the CFPB overdraft rule. Lawmakers have introduced action to dismantle the rule that credit unions have been fighting against.

The repeal is a significant victory for credit unions, who have been pushing for this change. Credit unions have been fighting against the rule for a long time.

The CFPB overdraft rule has been a major point of contention for credit unions. Lawmakers are taking action to repeal the rule.

Credit unions are eager to see the rule repealed and are praising lawmakers for their efforts.

Global Credit Union has a significant presence in Alaska, with over 1,100 employees and operations in fourteen distinct communities.

The credit union's headquarters will remain in Anchorage, a testament to its commitment to the state.

Six of the seven board members reside in Southcentral Alaska, reflecting the institution's deep roots in the region.

Global Credit Union is a major employer in Alaska, providing jobs and economic stability to the local community.

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The credit union maintains a separate foundation, a 501(c)(3) nonprofit that has given millions of dollars back to communities throughout Alaska.

It supports other nonprofits and charitable causes, including United Way campaigns and smaller organizations that focus on needs-based charity work with children.

The credit union also prioritizes supporting junior enlisted men and women, ensuring their families can access basic necessities like food and school supplies.

Global Credit Union's commitment to Alaska is unwavering, with its roots firmly planted in the state.

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At Global Credit Union, community involvement is a top priority. They have a long history of giving back to their members and the communities they serve.

Global Credit Union has a strong commitment to financial education, offering free financial workshops and webinars to help members make informed decisions about their money. These resources are available online and in-branch.

Their community involvement extends to local organizations, with a focus on supporting youth and education initiatives. For example, they've partnered with local schools to provide financial literacy programs for students.

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Global Credit Union also has a strong volunteer program, with employees participating in community events and fundraising campaigns. In 2020, they volunteered over 1,000 hours in their local community.

Their community involvement efforts are guided by a set of core values that prioritize integrity, respect, and social responsibility. These values are reflected in their business practices and community engagement initiatives.

By giving back to the community, Global Credit Union fosters a sense of belonging and trust among its members. This approach has helped build strong relationships between the credit union and the communities they serve.