Inclusion, equity, and simply helping one another are core to one California credit union’s purpose. Del Paso Heights, once a thriving neighborhood of Sacramento, has struggled since the 1970s with economic isolation, high levels of drug dependency, and widespread crime. Many residents struggle to get by financially, much less grow family wealth.
Golden 1, the nation’s sixth-largest credit union, is working to help. In July, the organization announced a five-year, $10-million initiative designed to break cycles of multigenerational poverty in this under-resourced neighborhood. The comprehensive investment focuses on helping residents help themselves and each other. Community organizations with deep roots in Del Paso Heights will use the funds to expand the impact and reach of existing programs supporting education, mental health services, and other efforts.
In conjunction with this initiative, Golden 1 plans to open a financial resource center in the neighborhood this December, providing residents with financial services, education, and counsel from credit union advisors. Residents will also have a chance to apply for jobs at the center and other roles within the credit union, where they will be trained for new careers in the financial services sector.
“Families and individuals need a variety of supports to thrive,” says Donna Bland, president and CEO of Golden 1. “To uplift a neighborhood, the support has to be comprehensive. It’s everything—financial education, jobs, healthcare, healthy food, financial well-being—they’re all interrelated.”
The Del Paso Heights initiative is a keystone of Golden 1’s broader commitment to helping build a more inclusive and equitable California. It’s also a powerful example of how organizations can make a difference in their local community, and it helped earn Golden 1 a spot on Fast Company’s 2023 list of Brands That Matter.
FORGING DEEP COMMUNITY CONNECTIONS
Far before solidifying plans for the Del Paso Heights initiative, Golden 1 invested significant time to understand the root causes of economic inequality throughout California. For several years, it researched disparities between low-income areas and more affluent communities across several key metrics, including education and access to financial services. In Del Paso Heights, Golden 1 assembled a community advisory committee to draft a blueprint for its local investment.
“We brought multiple community nonprofits and residents together to have a dialogue,” Bland says. “That allowed us to really focus on what’s most important: trying to be there for people in all stages of life.”
PART OF A LEGACY
Founded in 1933, Golden 1 has served as a focal point for Californians trying to make the most of their money through the Depression, boom times, crises, and industry transformations. The not-for-profit, member-owned organization has a long history of giving people the tools, benefits, and advice they need to thrive.
Golden 1 is committed to helping its members understand their finances, budget for the future, and achieve their financial goals. Members receive free access to an online financial wellness center, which provides a suite of tools, personalized learning lab modules, and other interactive resources that help them learn about finance and improve their financial well-being. Through volunteerism and financial donations, Golden 1 has made concrete improvements to the financial well-being of dozens of communities across the state.
“We’re founded on the idea of people helping people,” Bland says. “That’s built into our mission. At Golden 1, we believe that when our community thrives, our members thrive.”