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Interra Cares Foundation

At the heart of Interra Credit Union is a commitment to empower members and uplift communities. Financial well-being for all is more than just a vision; it’s a mission to ensure that everyone has the opportunity to thrive financially, regardless of their income or background. This mission drives credit unions to create tools, resources, and support systems that help people make informed decisions, reduce financial stress, and build resilient futures. The Interra Cares Foundation focuses on this by empowering lives through financial inclusion.

Why Financial Wellbeing Matters

Financial wellbeing is more than meeting monthly expenses. It’s about having a sense of security, the ability to manage life’s financial ups and downs, and the confidence to plan for a brighter future. When financial wellbeing is prioritized, individuals can focus more on their families, their careers, and their personal growth – leading to healthier, happier communities.

Why Financial Inclusion Matters

  • The Federal Deposit Insurance Corporation (FDIC) reports that nearly 40% of US households do not have $400 in combined checking and savings accounts1 to pay for an unexpected expenses.
  • Share of financially vulnerable Americans has increased to pre-pandemic levels at 17%2, more than 43 million people. The wealth gap is widening.
  • More than 2/3 (67%) of people in America are not financially healthy.2
  • Some consumers are forced to rely on payday loans and other expensive alternative financial services for their lending needs.
  • More payday lending outlets in the US than McDonalds’ franchises.3
  • Meeting members where they are in their individual financial journey, with the right solutions, delivered in the way members want.

Key Facts

  • The Interra Cares Foundation is sponsored entirely by Interra Credit Union.
  • Interra Credit Union’s vision is to Do Well To Do Good™. This allows support and sustainability for members, employees and the community.
  • The Foundation provides approximately $120,000 in grant awards each year.
  • Every new Interra member contributes $5 to the Interra Cares Foundation, while the credit union contributes $1 per member annually.
1www.federalreserve.gov/publications/2023 Economic Well Being Of Us Households In 2022 Expenses.
2www.financialhealthnetwork.org/2023 Pulse US Trends Report.
3Dr. Lisa Servon, America’s Great Unbanking (2023).