Social responsibility is a concept Jeanne D’Arc Credit Union takes seriously. The organization’s core purpose is “to help each member make smart financial choices,” but its sense of duty and concern for the communities it serves transcends anything taught in college finance.

“We get involved in certain charities and causes because we are dedicated to helping people who are at critical points in their lives,” explains Mark Cochran, Jeanne D’Arc Credit Union’s president and chief executive officer. “We exist to help people, including those of modest means.”

Rather than educating people solely about checking and savings accounts, loans and other standard financial products, the credit union also strives to teach a variety of life skills. Budgeting, the importance of higher education, maintaining a good credit rating, reducing household costs and creating a stable lifestyle are just a few of the areas the credit union routinely discusses with community members through a multitude of seminars, workshops and other education programs.

“I can’t adequately express how appreciative we are to those organizations, such as Jeanne D’Arc Credit Union, that consistently go above and beyond in their efforts to help the city and its residents,” Lowell City Manager Bernard Lynch says. “When there is a need in Lowell, or in the region, certain businesses can be counted upon to come forward and make a difference. Jeanne D’Arc Credit Union is one of those businesses.”

Equally important are the many charitable efforts the credit union supports, such as Catie’s Closet (which collects and distributes clothing for homeless and needy teens at Lowell High School); My Father’s House (which provides shelter, food and education to young, single mothers); Rebuilding Together Lowell (which performs repairs on homes of needy and elderly residents); Living Waters Ministry of Hope (which strives to aid the homeless, rebuild lives and teach life skills); Budget Buddies ( which provides ongoing financial coaching for low-income women); Lowell Day Nursery (a nonprofit child-care center); Girls, Inc. (which teaches independence and personal responsibility); Greater Lowell YMCA, and many more.

“It all ties back to our tagline, ‘We Share a Common Thread,’” Cochran explains. “There are about 100 charitable and community endeavors that we sponsor and they are all geared toward helping people and building relationships with people.”

Holistic Approach

The credit union’s efforts all focus on improving people’s lives, but each endeavor works toward the goal from a different angle. Some people need to learn basic life skills – for example, budgeting, bill paying, resumé writing, interviewing expertise and parenting tips. Others need more concrete assistance, such as housing, clothing, food and medical care. The goal is to attack the problems of poverty from every possible direction.

Jeanne D’Arc Credit Union has four, full-service high-school branches, an entire department focused on community education, a program designed to encourage low-income people to save by offering 7 percent annual percentage yield interest on the first $500, and MoneyStrong, a concept inspired by a desire to help those just entering the financial marketplace or needing to rebuild their credit.

“Those are all very unique to us and highly beneficial to people in the region,” Cochran says. “By paying an extraordinary rate, we are able to give people an incentive to start saving, and we can assist those people who currently have no credit, but want to start creating their financial profile.”

Jeanne D’Arc has found that helping members of modest means become financially stable is not only morally sound, it also improves the bottom line. During the past three and a half years, the credit union’s membership has increased by 10,000, and total assets have climbed by $300 million. Cochran notes “profitability is an outcome, not a goal” of the credit union’s strong community outreach efforts.

Partnering with the Lowell Development & Financial Corporation, a nonprofit organization created to spur the city’s economic revitalization, Jeanne D’Arc Credit Union has helped finance Lowell’s downtown renaissance, was a critical player in the complete reinvention of a dilapidated housing project, and is currently supporting an innovative loan program to fund energy-efficient renovations for historic buildings.

“Jeanne D’Arc has been a major player with LDFC for longer than I’ve been here,” veteran LDFC Executive Director James Cook says. “They step up every time we ask for assistance, whether it’s for start-up retail, home ownership, energy efficiencies … you name it, Jeanne D’Arc is always there.”

Serving those in the region is clearly an integral part of Jeanne D’Arc’s culture. For example, Cochran serves on the board of directors and executive committee of the Lowell Plan, and vice president James Milinazzo is both president of the LDFC and Lowell’s current mayor.

“Whenever we have the ability to improve the lives of people in our membership communities, we are going to embrace it,” Cochran emphasizes. “It is our reason for being and is at the heart of all we do.”

Sharon Flaherty is assistant vice president of marketing at Jeane D’Arc Credit Union, Lowell. E-mail: Sharon.Flaherty@jdcu.com