Credit Unions in Alaska and Hawaii Vying for Federal Home Loan Bank Award Need Votes this Week

Credit unions submitted the Get Real Financial Reality Fair Program for a chance to win; voting ends Sept. 14.

9/11/18

Strong Communities Award image

Several credit unions in Alaska and Hawaii are vying for $15,000 as part of the Federal Home Loan Bank award. To win, the credit unions need your votes this week.

For the past five years, the Federal Home Loan Bank of Des Moines, in Iowa, has awarded funds to financial institutions as part of its Strong Communities awards. The awards honor the projects, people, and programs that promote local small business growth and retention.

This year, eight credit unions in Alaska and Hawaii submitted the Financial Reality Foundation’s Get Real Financial Reality Fair program as a contender in the award’s Rural Category.

The credit unions participating include:

  • Alaska USA Federal Credit Union – Anchorage
  • Credit Union 1 – Anchorage
  • Northern Skies Federal Credit Union – Anchorage
  • Tongass Federal Credit Union – Ketchikan, Alaska
  • Aloha Pacific Federal Credit Union – Honolulu
  • Hawaii USA Federal Credit Union – Honolulu
  • Hawaiian Tel Federal Credit Union – Honolulu
  • Kaua’i Government Employees Federal Credit Union – Lihue, Hawaii

Online voting began Sept. 10 and will close on Sept. 14. Participants may vote once in a 24-hour period per device. One winner in the Rural category will receive $15,000 and a runner-up will win $3,000. The same will apply to a winner and runner-up in the Urban category. Winners will be announced in October.

Projects submitted must specify economic development needs within their communities, provide a solution, and demonstrate how it filled that need.

The Financial Reality Fair program provides community members of all ages with the opportunity to learn about personal finance through real-world simulations. The exercises help develop the budgeting skills they need to achieve their financial goals, and provide a realistic look at factors such as salary, car loans, mortgages, credit cards, student loans, and other important aspects.

At the end of the fair, it is each participant’s goal to stay within budget and have money left over after paying bills while ideally saving 10 percent of their income.

Several credit unions throughout the Northwest, Alaska, and Hawaii have won the award in past years. To learn more about the awards and past winners, visit the Strong Communities Award online.