Unique Partnership Between Financial Institutions to Benefit Students

Posted by Britt Bonanzino on March 26, 2024

In a trailblazing partnership, Canopy Credit Union received a grant from Washington Trust Bank for $15,000 to continue providing financial education opportunities for students at a unique local high school. This grant will fund a savings match program for juniors and seniors at Lumen High School and help establish an emergency personal loan fund administered by Canopy on behalf of Lumen’s student support services.

Since 2020, Lumen High School, a public charter school in Spokane, has been serving teen parents and their children by providing programs with high academic standards, a specialized early learning center, and wrap around supports to meet the layered needs of teen parents.

“Lumen is a beacon of hope in our community,” Charlotte Nemec, Canopy’s President and CEO, said. “Canopy is grateful to support these amazing students with this generous grant from Washington Trust. We can’t wait to see how our partnership empowers students on their journey to financial wellness.”

“Washington Trust is committed to creating meaningful impact in our communities through unique opportunities and partnerships like this one with Canopy Credit Union,” Jack Heath, President and COO of Washington Trust, said. “This collaboration will help provide financial education and real opportunity for the students at Lumen High School to plan for their future.”

These funds will amplify the work Canopy does as a federal designated Community Development Financial Institution (CDFI), serving low-income populations with a unique lending philosophy and empowering financial education.

“While some might be surprised that a bank and a credit union are working together, the synergy of our missions and desire to come together to support this special school just make sense,” Nemec said.

As the end of the school year approaches, Lumen juniors and seniors will learn from financial education workshops taught by Canopy staff and set up their savings match accounts funded by Washington Trust’s donation. To learn about Lumen High School, visit www.lumenhighschool.org.

Posted in Regional Member News, Top Headlines, Washington.