We Won the Cobalt Barrier Breaker Award
We were honored to receive the Jack Henry Barrier Breaker Cobalt Award in Phoenix, AZ October 8. Jack Henry & Associates provides technology support for financial institutions nationwide. Launched this year, the annual awards recognize financial institutions that are dedicated to their communities, passionate about innovation, and relentless in helping accountholders improve their financial health. The Barrier Breaker Award honors one bank and one credit union that have made significant strides in breaking down barriers to financial health for their accountholders.
In response to a 2023 financial wellness survey that revealed 43% of our members struggled to save money, we reduced the minimum opening balance of our Money Builder Share Certificate to just $25 (down from $100) using Jack Henry’s platform. This was one significant way we could make saving more accessible for members facing financial hardships, and it resulted in a great deal of our members saving for the first time.
Each winning organization received a $10,000 donation to the charity of choice, and we chose Doernbecher Children’s Hospital as our donation recipient.
“This is what it means to listen to our members’ pain points, brainstorm solutions, and watch lives change for the better,” said Heather Snyder, AVP of Marketing & Community Development, and submitter of the award entry. “I am so proud of the success of this campaign and our team’s efforts.
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