Living in Vermont is a choice, a deliberate embrace of a unique way of life. It’s about the crisp autumn air, the quiet beauty of snow-covered hills, and a deep connection to the land and its people. And for those who call this special state home, Vermont Federal Credit Union feels like a natural extension of that very spirit.
It’s easy to think of a credit union as just another place to stash your money, but Vermont Federal aims to be something far more profound. They see themselves as fellow Vermonters – the ones who understand the excitement of buying your first home, the relief of refinancing a car loan, or the joy of welcoming a new child. They get it because they live it too. This isn't just a business; it's a community deeply woven into the fabric of Vermont.
This commitment to the community shines through in their actions. In 2019, for instance, they welcomed over 3,800 new members, bringing their total to more than 42,000 member-owners. Their assets grew to a substantial $583 million, a testament to the trust Vermonters place in them. And it wasn't just about numbers; it was about tangible support. They originated over $222 million in loans, helping people finance everything from cars to businesses.
Innovation is also a cornerstone. They launched a Student Checking account designed to help younger Vermonters build good money habits early on. For those dreaming of homeownership, their Seed Money program offered a helping hand, providing up to $7,500 towards down payment and closing costs for first-time buyers. And in our increasingly digital world, they’ve continuously improved their online and mobile banking platforms, making it easier than ever to manage your finances.
But perhaps what truly sets Vermont Federal apart is their dedication to giving back. They actively participate in local initiatives like 'Feed Your Neighbor' with the Vermont Food Bank and 'Pitchin' for a Purpose' with the Lund Family Center. Their employees aren't just clocking in and out; they're volunteering their time – over 900 hours in 2019 alone – at non-profits they care about. They also contribute financially to organizations like Spectrum Youth Services and the Vermont Make-A-Wish Foundation.
This deep-rooted commitment hasn't gone unnoticed. They've consistently been recognized for the value they provide to their members, ranking high nationally and earning the #1 spot in Vermont from independent research groups for offering better rates and fewer fees. Forbes has named them a Best-In-State credit union for two years running, and Vermont Business Magazine has acknowledged them as the 'Best of Business' in several counties for three consecutive years.
Even in challenging times, like the onset of the COVID-19 pandemic, Vermont Federal stepped up. They provided nearly $9 million in Paycheck Protection Loans to local small businesses and offered over 170 COVID relief loans to individuals struggling with lost income. They also granted over 2,000 loan deferrals and extensions, demonstrating a genuine desire to ease financial burdens.
Ultimately, Vermont Federal Credit Union embodies what it means to be a part of Vermont. They are a financial institution built on shared values, community support, and a genuine understanding of what matters to the people they serve. They’re not just a place to bank; they’re a partner in helping Vermonters thrive.
