Northwest Credit Union Association has announced the winners of its annual Summit Awards. Four Oregon credit unions received the Cooperation in Action Award for assisting Oregon small businesses with emergency grants: Central Willamette, Point West, Consolidated Community, and Trailhead. The four credit unions were honored at the Northwest Credit Union Association’s Summit Awards Dinner & Gala during the MAXX Convention in Boise, Oct. 7.
NWCUA’s Cooperation in Action Award recognizes two or more credit unions or credit union professionals from separate credit unions who work together in the spirit of cooperation, resulting in impressive outcomes that arise when collaboration occurs across any business.
Trailhead, along with the other three credit unions, worked together to identify small businesses of 25 or fewer employees that did not receive CARES Act money through PPP or EIDL loans. Although the service areas of these credit unions are spread across the state, we each provided these emergency grants, funded by the state of Oregon, to multiple regions outside of our own service areas. Over a 60-day grant window, $1.16 million was dispersed to nearly 400 businesses. Thirty-five percent of those grants went to minority-owned businesses, and 66% were awarded to women.
This effort came together through business, government, and community partners that assisted in getting the word out to businesses, as well as providing help with paperwork.
Through our collaboration, Trailhead demonstrated the founding cooperative principles of the Credit Union Movement including Cooperation Among Cooperatives; Concern for the Community; and Diversity, Equity, and Inclusion.