Community Financial Credit Union, a non-profit financial institution headquartered in Plymouth, Mich., today announced the launch of its Relentless Care Foundation to oversee its philanthropic initiatives. The foundation exists to magnify equitable systems in Michigan communities by focusing on efforts related to housing, workforce, and mobility.
The foundation, which plans to give at least $10 million over the next 10 years, has launched in conjunction with one of Community Financial’s largest ever commitments, an investment in Southeast and Northeast Michigan educators. This round of teacher grants reflects the credit union’s longstanding tradition of giving in the communities it serves while exemplifying a new focus of walking alongside partners to create lasting impact with more than just dollars. This year, Community Financial doubled its teacher grant program to $90,000 to teachers across 11 districts in Southeast and Northeast Michigan.
“Our work through the Relentless Care Foundation brings to life our pursuit of thriving and vibrant communities supporting a brighter future across our great state,” said Tansley Stearns, president and CEO of Community Financial. “The foundation will serve our purpose of creating joy and igniting Michiganders’ impossible dreams – whether it's owning a home, becoming financially independent, or launching community programs. Their dreams are our dreams.”
Relentless Care Foundation’s Funding Pillars
The foundation will fund initiatives through its three pillars:
- Making housing attainable through a focus on homeownership and safe and stable housing.
- Strengthening the workforce now and in the future by concentrating on increasing women and minority led enterprises, as well as arts education and critical thought development for youth.
- Fostering community mobility by supporting what drives autonomy and independence for individuals and their communities. The foundation will work with partners to fund initiatives and programs that support different forms of mobility, including economic mobility, mobility of information, and transportation.
Other Ways Community Financial Makes an Impact
Many of the initiatives the foundation will fund align with existing Community Financial efforts that create joy and ignite impossible dreams across Michigan communities. In the housing space, Community Financial offers an obstacle-free Path to Homeownership program, which, as of August 2023, has over 50 active loans totaling $6.5 million, closed 26 loans for $3.4 million, and reviewed $17.2 million in loan applications. The credit union has its debit card partnership with local artisans, Tony Roko and Nine Design+Homes, which donate one penny to the Relentless Care Foundation, Roko Art Foundation, or Ruth Ellis Center with every transaction.
The most recent example of Community Financial’s impact in the community is through one of its largest ever commitments: teacher grants, which will be applied toward various projects, including funding student art galleries, anti-bias toolkits, and orchestral sheet music by a black female composer. Funding will also go toward bringing adaptive resources, such as pool equipment, seating, and musical instruments, into classrooms to help students with developmental and cognitive disabilities.
“Community Financial’s commitment to the communities we serve is unwavering, and our 2023 teacher grants exemplify that,” said Matt Nahan, executive director of the Relentless Care Foundation. “We believe in local, lived experience and trusting educators to know what students in their community need to thrive is just one way we can live that belief. Stay tuned, because there’s more to come with the launch of our foundation.”
The Relentless Care Foundation will not build an endowment. Rather, it will spend its funds each year to ensure it makes as much impact as possible, donating when and where is needed. Please visit cfcu.org/community for more information on Community Financial Credit Union’s community impact initiatives.