PROVIDENCE – People’s Credit Union CEO and President Sean Daly, Little Maven Lemonade owner Mariana Silva-Buck and local resident Nnkabaale Kasaa joined Local Return on April 13 to celebrate Move Your Money Month in Rhode Island.
The Move Your Money campaign encourages Rhode Islanders to think locally for their banking needs, such as community banks and credit unions. The campaign also coincides with Community Banking Month, led by the Independent Community Bankers of America.
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“Choosing a local bank is one of the easiest ways to support our local economy,” said Jessica David, president and co-founder of Local Return, an organization that works to build community wealth in Rhode Island through ownership and investment. “When you deposit your money with a community bank or credit union, you’re supporting loans to small businesses, mortgages for your neighbors and grants to local nonprofits. In contrast, the big banks aren’t connected to places where they operate, and they often use Rhode Island deposits to make investments elsewhere.”
Kasaa used the Coastal1 Credit Union as an example. Its Keys to Success individual savings account program matches participant savings up to $2,000, allowing low- to moderate-income Rhode Islanders to access reliable transportation.
“Keys to Success helped me buy my car,” said Kasaa, a 2022 graduate of the program. “Without it, I wouldn’t have been able to save up enough money to help me support and grow my business.”
“People’s Credit Union is here to serve Rhode Islanders and Rhode Island businesses,” Daly said. “We know that our success, our members’ success and the community’s success are inextricably linked. And our staff and leadership come from the community, so they know Rhode Island markets and neighborhoods best.”
