It prides itself on fostering a sense of ownership and belonging among its members, who are also its owners. According to Mark L. Robnett, President and CEO of JFCU, “Justice Federal Credit was founded amidst the Great Depression by just 12 employees in the halls of the Department of Justice.” These visionary founders aimed to provide loans with affordable rates and manageable terms, promoting financial security among their peers. Robnett explains, “They wanted to encourage building financial security by providing a safe place to deposit savings and earn some dividends.” This humble beginning saw the pooling of resources, accumulating $137 in assets and attracting 41 charter members. Initially established as the Department of Justice Federal Credit Union, it has since evolved into what we know today as the Justice Federal Credit Union. Robnett proudly recounts the credit union’s evolution: “What started as a small group of DOJ employees with similar goals in 1935 has grown to include not only the Department of Justice employees but also state and local law enforcement, public safety, and their family members.” This expansion reflects the organization’s dedication to serving those who dedicate their lives to public safety and justice. RESPONDING TO FINANCIAL CHALLENGES When faced with the challenges of rising interest rates and an inflationary climate, the Justice Federal Credit Union has always stood by its members, as Robnett explains. “Through the lens of financial wellness, the COVID-19 pandemic brought about new challenges in the workforce, which extended to the Great Resignation. Many people retired early, and we’ve had challenges attracting and retaining talent. This created an environment where law enforcement officers had to work longer hours, often multiple shifts, raising concerns about their mental health and wellness.” Statistics reveal that 64% of Americans consider themselves financially unhealthy, a reality that brings out the importance of the JFCU ‘s initiatives. “Realizing that financial stress plays a major role in the health and well-being of our members, we partnered with the International Association of Chiefs of Police to address financial wellness at their Annual Officer Safety and Wellness Symposium,” Robnett explains. This partnership aims to improve officer safety and wellness, enhancing the health and effectiveness of law enforcement professionals. Robnett recounts a personal story that brought this issue to the forefront: “We had someone who worked 3 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 JUSTICE FEDERAL CREDIT UNION
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