The CU Growth & Innovation Summit is proud to present the inaugural CU Growth & Innovation Award at this year’s Summit. This award honors groundbreaking products, services, or internal processes that push the credit union industry forward. In 2026, our distinguished winner is Community Financial Credit Union (CFCU), a standout innovator serving ~83,000 member-owners with a mission rooted in access, impact, and purpose-driven growth.
Why Community Financial Credit Union?
Over the last 2–3 years, CFCU has demonstrated strategic courage, smart risk-taking, and a deep commitment to members by launching a series of innovative savings products and expanding its reach across Southeast Michigan. While maintaining a strong ~$1.5B balance sheet, the credit union opened new branches in Detroit and West Bloomfield (with another underway in Novi), all while shifting from indirect lending to a high-value deposit-focused growth model.
Key Innovations That Set CFCU Apart
⦁ CloseEnuff™ Checking: In 2024, CFCU overhauled its fee structure—slashing punitive overdraft fees and introducing a $50 “safe zone.” This saved members six figures in just the first two months and repositioned checking as a true growth engine.
⦁ OnePride CD: Created in partnership with the Detroit Lions, this gamified savings product increases its rate each time the Lions score the first touchdown in a game. This unique approach engaged members in an exciting way while driving meaningful deposit growth.
⦁ 10% High Yield Savings Account: Launched in 2023, this product offers an eye-popping 10% APY on the first $1,000 with just $5 to open—an accessible, high-conversion offer that resonates with younger and new savers.
Purpose-Driven Growth in Action
Community Financial’s results speak for themselves: over 3% membership growth YTD (excluding indirect) and over 6% core deposit growth YOY as of August 2025. But more importantly, every step reflects their member-first mission. Whether it’s removing financial friction, offering life-changing savings incentives, or expanding access through new branches, CFCU is proving that strategic growth and community impact go hand-in-hand.
We congratulate the entire CFCU team for setting a powerful example of innovation with integrity.
To learn more about CFCU visit: cfcu.org
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