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1 Detroit Credit Union highlights local lending, $5,000 member prize at Inkster presentation
Summary
Portia Pyle, president and CEO of 1 Detroit Credit Union, told the Inkster City Council the branch at Dozier Recreation Center has opened more than 114 accounts, issued about $126,000 in small loans to residents and runs a 'Safe to Win' savings program whose national prize recently netted an Inkster resident $5,000.
Portia Pyle, president and CEO of 1 Detroit Credit Union, used the council meeting on June 16 to update Inkster officials about the credit union’s branch inside the Dozier Recreation Center and the institution’s community work.
Pyle said the branch — open for just over six months — has opened more than 114 new accounts for Inkster residents and has put about $126,000 of small loans on the books (reported as 21 small loans). She said the physical branch cost "over a half $1,000,000 to build" and described an effort to tailor products and services for neighborhood needs.
Pyle highlighted the credit union’s ‘Safe to Win’ national savings program as an example of how incentives can encourage household savings; she recounted that a local member, cited in the meeting as "Miss Belitha," won a national contest and received a $5,000 check. "Just for a $25 deposit...she unexpectedly received $5,000," Pyle said, emphasizing the program’s local benefit.
The credit union also described community giving and engagement: hosting an all-team meeting at the Dozier center, packaging more than 500 soup kits that fed about 2,000 families, giving $2,500 to an adopt-a-child program at the Inkster Police Department, and operating a foundation to fund community work because the credit union itself is a nonprofit. Pyle encouraged residents to support the credit union by becoming members or by making "impact deposits" that allow the co-operative to lend locally.
What happens next: Pyle invited council and residents to continue working with the branch; no formal council action on the presentation was recorded.
Representative quote: "We're making dollars...we are Inkster's financial institution, and we're we're really here and committed to staying," Pyle said.
