Partnering for Good
What started with a student loan has become a full-blown relationship for Kristi Luzar
As Executive Director of the Urban Economic Development Association (UEDA) in Milwaukee, Kristi Luzar is committed to nurturing financial health in her community. As a long-term member of UW Credit Union, she fits right in.
Luzar was drawn to UW Credit Union when she was a student at UW-Madison in the late ’90s. She was appreciative of the low interest rate offered on her student loan, making it affordable enough for her to pay off sooner than expected. She also liked banking with a local organization.
“I felt like if I had a problem I could go and talk to somebody,” says Luzar. “They were just really approachable and the products were good, and I like the credit union model.”
At first, she maintained the checking account she had with another financial institution from high school. But when she started seeing unexpected fees show up in that account, she quickly transferred everything over to UW Credit Union.
When she moved back to the Milwaukee area after graduation, the only branch available was UW-Milwaukee. Today, she lives in the Bay View neighborhood, within minutes of a branch. “It's been nice because now there are branches all around [Milwaukee].”
UW Credit Union provided guidance when Luzar had a couple of credit cards with balances, helping her consolidate into a personal loan with a better rate.
“I felt like if I kept those [cards] open, I would keep using them,” says Luzar. “[Now] I just have one card that I use. And I paid off those balances over a couple years.”
Luzar also financed her first car through the credit union. “When I paid off my car loan — it’s amazing what you see your credit score do once you pay off a loan!”
The deepest connection to UW Credit Union, however, happens in Luzar’s work with UEDA.
When UEDA launched the Bank On Greater Milwaukee initiative in 2019, UW Credit Union was one of the first financial institutions to jump on board. Our Clear Account meets the Bank On National Account Standards, which ensure people have access to financial health through safe, affordable and certified banking accounts as well as services and educational resources that empower people and families to improve their financial capability, health and independence.
UW Credit Union has also partnered with Take Root Milwaukee, UEDA’s sustainable homeownership program, which provides resources and education for first-time homebuyers. “It’s all about really promoting homeownership…but also lenders who provide affordable products for people.”
There is one lesson that is constantly underlined in her work at UEDA.
“I wish young people thought more about how having a relationship with a financial institution is actually really critical,” says Luzar. “Even though there's all this technology and financial tech companies, they're not as safe and secure as having [your money] with a financial institution that is regulated. It's not just about that one account. It's about the other things you will do in your life that require financial services or products. And so you have to think about building a relationship with [a financial institution] over time.”
She’s carrying over that lesson to her own daughter, Helen. They recently visited the Bay View branch to open Helen’s first savings account. Now her money can earn a little more than it did inside her piggy bank for the last seven years.
“My questions are answered. [My experiences have] always been super positive. That's why I'm still here after 25 years.”
Because of our strong financial foundation, UW Credit Union can support organizations like UEDA that align with our social mission of improving the financial well-being of people. Since 1931, UW Credit Union has been a trusted institution committed to serving members and the communities where they live.
