Faith and finance: Catholic credit and checking
Getting your Trinity Audio player ready...The Diocese of Lansing recently announced it has expanded its banking relationship with Notre Dame Federal Credit Union (Notre Dame FCU), a financial partner that more clearly supports the mission of the Diocese. In the process, it is encouraging diocesan parishes, schools, agencies, and parishioners to do the same so that they will have a financial institution that is purposeful about its Catholic mission, will serve them as Jesus would, and be more financially beneficial to them as well.
The Diocese of Lansing recently announced it has expanded its banking relationship with Notre Dame Federal Credit Union (Notre Dame FCU), a financial partner that more clearly supports the mission of the Diocese. In the process, it is encouraging diocesan parishes, schools, agencies, and parishioners to do the same so that they will have a financial institution that is purposeful about its Catholic mission, will serve them as Jesus would, and be more financially beneficial to them as well.
As an explicit sign of this intent, Notre Dame FCU is opening a branch in late 2024 at 500 E. Michigan Ave. in Lansing, right across the street from Jackson Field where the Lansing Lugnuts play.
The move is the fruit of several years of contact between diocesan Chief Financial Officer George Landolt and Robert Kloska, Notre Dame FCU’s chief partnership officer. The two met roughly nine years ago and kept in touch on various matters over that period.
The relationship became more formal during COVID, when Notre Dame FCU stepped in and provided critical banking services to diocesan parishes and Church institutions across the nation to help them through these challenging times. This worked out so well with the Diocese of Lansing that George and Robert began discussing ways to expand the relationship even further.
Robert says that the benefit to the diocese of the expanded partnership is that “we can go all in, and we can give them the best rates, the best terms, the best service, and a commitment to give back and share revenue.”
That “all in” not only entails opening the new branch, but hiring Laurie Haverty as the regional director for the Diocese of Lansing. Her sole job is to serve the diocese and its parishes, schools, and agencies. Since she came on board, 23 parishes, schools, and agencies are now banking with Notre Dame FCU.
John Recznik, business manager of St. John the Baptist Catholic Church in Ypsilanti, says, “The thing that stuck with me the most, and ultimately moved our parish in the direction of changing banks, was the fact that they are 100 percent on mission for the Catholic Church. Notre Dame FCU is not your typical secular bank, focused on profit-making vs. excellent customer service. Rather, their mission is to serve the Body of Christ in the financial sector, something not offered by any of the large banks.
The benefits of switching to Notre Dame FCU are many. Laurie says nonprofit entities receive “significant interest-bearing, no-fee checking, free armored courier service for parishes and schools, free positive pay anti-fraud protection, dedicated personnel to provide service to the diocese, and annual contributions to participating parishes and schools. Parishioners, school parents, and family members can use great financial services that earn money to support their parish or school with ELEVATE fundraising tools. Everyone receives a strong commitment from Notre Dame FCU to make service to those in the Diocese of Lansing a top priority.”
In addition to the first branch Notre Dame FCU is opening in the heart of Lansing’s downtown, Laurie says, “We belong to a shared branch network of credit unions that allows members to use local credit unions and ATMs to conduct Notre Dame FCU banking transactions if they choose. This way we can service members throughout the entire diocese”.
As Robert puts it, “It’s a win-win. The win for us is that we’re fulfilling our mission, based on Catholic social teaching, to provide a full array of financial resources, combined with honest advice and education, empowering our members to enrich their lives and contribute to the betterment of the communities we serve. The win for the new member is that they’re improving their financial health, and we send $150 to their eligible parish, school, or ministry for each new member that participates in a 30-minute financial check-up. Plus, this year in the Diocese of Lansing, every parish and school that banks with us, we’ll give them a $2,500 donation just to say ‘thank you,’ in support of their mission.”
And in December 2024, for every 10 parishioners of a particular parish that bank with Notre Dame FCU, that parish will get another $2,500. If the number of parishioners reaches 20, that will result in another $2,500 donation, and so on. This is just one feature of many of the ELEVATE program. Visit NotreDameFCU.com/ELEVATE to learn more.
All of this will hopefully result in diocesan institutions and individual members having more monetary resources with which to enhance their ministries or apostolates and thus build up the body of Christ.
“We’ve banked with Notre Dame FCU for a number of years now,” said George Landolt, “and have great respect for their leadership and vision. The idea of a financial institution that desires to serve and give back to the Catholic Church is one that is unique and deserves attention [and] sincere cultivation”.
Ultimately, says Landolt, “We want to work with, and we want our parishes to work with, a financial institution that cares about and wants to see the Catholic Church grow and bring people to Christ. So that’s what this is all about. It’s all about bringing people to Christ.”