Diversity Insight: How the community development financial institution and impact lending team adds value
Collaborations across Vystar help the credit union serve more members better and deliver on its core value to lead by example.
At VyStar Credit Union, we are committed to being a reflection of the communities we serve. In pursuit of that goal, we have focused on initiatives that create a strong sense of belonging for individuals and families across the places the credit union calls home. As a community-focused credit union, VyStar CU’s priority is to meet our members where they are and find solutions that help improve their financial lives. One of the keys to those efforts is our community development financial institution and impact lending team.
CDFI Status and a Collaborative Culture
Headquartered in Jacksonville, Florida, VyStar has a strong presence in the city and is involved with many local organizations and government affairs. Chief Lending Officer Jenny Vipperman, a CUES member, led our team on its journey to becoming a CDFI more than two years ago. She believes this is an initiative that allows credit unions to strengthen the way they serve their members and communities. It also encourages credit unions to be intentional and dedicated to the work, which needs to come from all levels of the credit union to ensure the authenticity of the work a CDFI team does.
I was tasked with spearheading VyStar’s efforts on CDFI and community lending, working alongside my peers in each lending vertical: consumer, commercial, real estate and loan administration. This collaborative culture allowed us to exceed our goals in a short time with the continued focus on developing innovative loan products and programs that will be rolled out early this year. These products and programs will add to those launched in 2022, which are already making an impact in the lives of individuals within the communities that VyStar serves. SVP/Real Estate Lending Jennifer Kouchis describes the partnership as “a meaningful advancement for VyStar’s commitment to impactful lending and financial inclusion.”
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