Financial innovation today often evokes images of groundbreaking bank practices, automated tools and new technologies. At Fox Communities Credit Union, it’s much more than that.
Innovation at Fox extends far beyond traditional banking and digital tools; it’s deeply rooted in a dedication to build meaningful relationships and to support communities in non-traditional ways. Through close strategic partnerships with nonprofit organizations, Fox strives to enact significant change in the lives of many.
While financial institutions commonly provide support to nonprofits through donations or loans, Fox’s approach goes further.
“We don’t simply write a donation check or take care of a loan; we invest our time and unwavering dedication to helping the nonprofits we work with realize their visions. It ties to our mission to truly partner with our members, communities and Fox Family to build stronger financial futures,” said Chris Allen, Fox’s president and CEO.
In Oshkosh, Wisconsin, one such partnership exemplifies this spirit, where Fox collaborates closely with Day by Day Shelter, Inc. which provides temporary shelter, individualized services and opportunities for self-sufficiency to empower the most vulnerable adults in the community.
In 2020, at the height of the COVID-19 pandemic, Fox was introduced to Molly Yatso-Butz, the new executive director of Day by Day.
Shortly after meeting, it became clear that Day by Day’s six-month temporary space was not going to suffice to meet the overwhelming needs of the Oshkosh community. Amid the pandemic’s shelter-in-place orders, the urgency for shelter grew.
Day by Day persisted, seeking innovative solutions to serve those most vulnerable. Fox provided ongoing support, advice, education and had regular conversations with Day by Day leadership and their board.
Luckily, a grant covered half the funds for a new facility. And Fox offered a bridge loan to fill the gap, providing immediate capital for construction. With community support, Day by Day broke ground on a 50-bed year-round facility in June of 2022.
“It’s the shared passion for helping people in our communities that leads Fox to work with nonprofits for real partnerships; collaborating, learning and sharing with each other,” said Jose Villa, VP commercial lending at Fox.
Molly Yatso-Butz, executive director at Day by Day, eloquently states, “Fox Communities Credit Union truly represents what community partnership means. The Day by Day Shelter is fortunate to have them as a friend and partner. We couldn’t do what we do without the support of organizations like Fox and the people who work there.”
In May 2023, Day by Day was able to open their new facility where they can concentrate on what matters — providing programs for their guests, which are largely focused on life skills, helping them achieve an independent lifestyle and the ability to care for themselves.
And while Fox provides Day by Day the financial tools to succeed, Day by Day also provides Fox the insight into what a working nonprofit organization needs as well as the financial needs of those who use their services. That is the true experience of a relationship every single day.
Company: Fox Communities Credit Union
Innovation: Collaborating, learning and sharing with nonprofits for real partnerships
foxcu.org
