When it comes to building a thriving, inclusive and lasting Arizona economy, one thing is clear – investing in local businesses and communities is vital. From retail to restaurants and business services to banking, your everyday choices are more than a one time transaction.
That’s right! When you buy, shop and eat local you’re making a transformative investment in Arizona that shapes the future of our state... and that starts with where your dollars are deposited.
Fundamentally, community banks and credit unions have a keen knowledge of our local markets and rely on strong relationships with their customers. Community banks champion local entrepreneurship and are responsible for over half of all small business loans in the nation, according to the Institute of Local Self-Reliance.
When your money is deposited in locally owned and operated community banks and credit unions, it's invested right back into our local economy.
#MoveYourMoney and invest in Arizona.
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News on Local Banking
OneAZ Credit Union | April 3, 2026
As part of this milestone year, OneAZ is awarding multi-year grants to five nonprofit organizations dedicated to developing future leaders and advancing economic empowerment across the state.
This startup Scottsdale bank will meet you on the golf course to close your loan
Phoenix Business Journal | February 3, 2026
Scottsdale Community Bank has exceeded more than $100 million in assets, marking a significant milestone for the fledgling financial institution that increased its office space in Scottsdale to support its growth.
How Minority-Owned Businesses Can Counter Funding Barriers
inBusiness Greater Phoenix | December 2025
Minority-owned businesses generate nearly $2 trillion annually in the U.S., yet consistently face disproportionate barriers to funding. Despite growing entrepreneurial momentum, these businesses receive less than 2% of venture capital and face systemic exclusion from traditional financing. This gap is not just a matter of inequality — it’s a multibillion-dollar market failure.
Excellence in Banking: Credit unions of the year
AZBigMedia | November 26, 2025
AZ Business magazine‘s “Excellence in Banking” feature for 2026 underscores the critical role financial institutions play in driving Arizona’s growth, highlighting innovation, stability, and community impact as essential benchmarks for industry leadership.
Friends of the Oro Valley Public Library Honor Hughes Federal Credit Union for 20 Years of Support
Hughes Federal Credit Union | March 31, 2023
Friends of Oro Valley has used funds to sponsor numerous literacy programs in schools throughout Pima County, including “Books for Teachers,” which assists educators in five districts in obtaining culturally relevant books for classrooms, students, libraries and reading labs. The program focuses on Title I schools in low-income neighborhoods, including Amphitheater, Flowing Wells, Marana, Sunnyside and Tucson Unified.
How an Equitable Financial System Could Increase Stability in Banking
Common Future | March 30, 2023
In the last few weeks, we’ve seen the failure of three U.S. banks, the downward spiral of a troubled global bank, and the shares of regional, smaller, or more specialized depository institutions tumble as fears of the stability of our financial system rise. While the Federal Reserve and other major financial institutions have stepped in—to contain panic and stabilize, by lending/placing capital into financial and bridge institutions—we are left wondering what went wrong, what needs to change, and for whom?
Startup Valley banks say they are fiscally strong amid Silicon Valley Bank closure
Phoenix Business Journal | March 15, 2023
The leaders of two banks that opened in the Valley in 2022 say their financial institutions remain financially strong amid the collapse of Silicon Valley Bank and Signature Bank. Here's what they and the leader of a Valley credit union have to say.
It's "business as usual" and deposits are remaining steady at Scottsdale-based Gainey Business Bank Inc., said Joseph Stewart, president and CEO of Gainey Business Bank.
Gainey Business Bank is one of three new community banks that opened in the Valley last year.
The Groundbreaking Green Loan Fund
Local First Arizona | March 2023
Local First is now offering Verde Valley and Maricopa County businesses up to $15,000 in financing at 3% interest for sustainability projects that reduce energy and water usage by at least 20%. Unlike traditional bank loans that require collateral and charge high interest, the Green Loan Fund, created in partnership with Vitalyst Health Foundation, bases its lending approvals on the businesses’ future projected utility and water cost savings.
Stitching Together A Community
Vantage West Credit Union | January 17, 2023
At 625 W. Rillito Street in Tucson, there used to sit a beige, windowless building with no conspicuous signage. It was the type of industrial warehouse you might drive by every day and never really notice. This one happened to be home to a cut and sew manufacturer called Postcraft, which had been operating there since the 1970s. Few people knew about it, not even those who lived in the neighborhood.
In June 2022 that changed. The building began to burst with vivid colors as a mural took shape across its massive facade. Now everyone notices.
Hughes Federal Credit Union | January , 2023
Members of the Friends of the Kirk-Bear Canyon Public Library, Hughes Federal Credit Union, the Autistic Society of Southern Arizona and librarians just unveiled a new sensory program geared to the needs of neuro-diverse and Autistic children.
With its specialized play experiences, the new sensory program is the first for the Pima County Public Library system.
Arizona Financial Credit Union Pays Out $6M Member Bonus
Arizona Financial Credit Union | January 10, 2023
Arizona Financial Credit Union distributed a $6 million year-end bonus to members as part of the credit union’s Member Bonus Payout program. Since starting the program in 2012, the credit union has returned more than $51 million in excess earnings as bonus payouts to participating members.
“While the past year has been filled with rising interest rates, inflationary challenges and uncertainty, we’re pleased to be able to share excess earnings with our member-owners,” said Amy Hysell, President/CEO of Arizona Financial.
Community Makes a World of Difference: Tucson JCC
Vantage West | December 2022
In our changing world, it has become harder to find community, especially for individuals with disabilities. The Tucson JCC’s, Disabilities Program Services department works to provide days packed full of activities and connection to anyone who needs it. Their philosophy of radical inclusion not only enriches the lives of members with disabilities, it strengthens the entire community through the celebration of differences. Rest assured, when you’re at the Tucson J you won’t meet a single stranger.
Can Phoenix Startups Save The World?
Vantage West Credit Union | December 8, 2022
Phoenix is now the world’s 20th-ranked emerging startup ecosystem according to an annual global report by Startup Genome. That’s good enough to be #7 in all of North America.
How does one even measure a good startup scene? Typically, rankings like these look at concrete metrics such as the $1.22 billion in venture capital funding that was invested in Phoenix startups between 2015 and 2020, or the 374 funded companies founded in Phoenix from 2017 to July 2022, according to Crunchbase.
OneAZ Credit Union Sponsors Financial Literacy Program to Reach Thousands of AZ Students This Fall
OneAZ Credit Union | October 7, 2022
OneAZ Credit Union is pleased to announce they are sponsoring the Banzai program in five schools this fall. Banzai is an online financial simulation for elementary, middle and high school students that teaches them real-world finances.
Teachers use the program in their financial education or business classes. OneAZ will be sponsoring American Leadership Academy in Queen Creek, Williamsfield High School in Gilbert, Westmec Deer Valley High School, Great Hearts Academy of Anthem, and Graham County School District in Northern Arizona.
Arizona Financial Credit Union Opens Applications For Local Causes Grants To Nonprofits Statewide
Arizona Health & Living | September 30, 2022
Arizona Financial Credit Union recently opened grant applications to support hyper-local nonprofits through their Local Causes Visa® Debit Card program. Since its launch in August 2020, the program has provided more than $110,000 to more than 50 unique nonprofits, and with Arizona Financials™ expansion across the state with its recent name change, organizations across the state are invited to apply. Arizona Financial members can give back to their community one purchase at a time with a portion of each purchase going toward the Local Causes fund.
OneAZ Credit Union Announces $12,500 Legacy Grant to Support Arizona Teachers
OneAZ Credit Union | August 30, 2022
OneAZ Credit Union is proud to announce a $12,500 Legacy Grant donation to The Million Dollar Teacher Project’s “In Teachers We Trust Endowment” to support Arizona teachers. The “In Teachers We Trust Endowment” will serve as a capital base for supporting innovative strategies to increase teacher compensation, as well as scholarship programs, financial hardship grants, and field trip assistance.
Arizona Ranked Last Nationally in Small Business Loan Approval
3TV/CBS 5 | July 21, 2022
Small businesses are the heartbeat of any community and vital to the economy. But recent data from the U.S. Census Bureau has Arizona at the bottom nationally regarding small businesses getting approved for loans. For every 744 small business loan applications in Arizona, only one is approved.
Hughes Announces Recipients of its 17th Annual Scholarship Program
Hughes Federal Credit Union | June 14, 2022
Hughes Federal Credit Union announced today the names of seven high school seniors who will receive a $2,000 scholarship in support of their continuing education from the credit union’s Annual Scholarship Program. In celebration of its 70th anniversary this year, Hughes increased its annual award amount from $10,000 to $14,000.
Arizona Federal ‘Rises’ in support of minority business owners
AZBigMedia | May 27, 2022
In an effort to grow small businesses and support minority business owners in partnership with Local First Arizona, Arizona Federal Credit Union is one of the financial literacy partners for the We Rise and Fuerza Local accelerator programs. These programs focus on providing Black and Hispanic business owners with the support and resources to succeed while strengthening the strong small business community that Arizona has fostered.
Arizona Federal Credit Union Local Causes Program Adds Nine Additional Grantees To Community Family
Arizona Health & Living | May 11, 2022
Since launching the Local Causes Visa® Debit Card program in 2020, Arizona Federal Credit Union has supported more than 50 unique nonprofits throughout Metro-Phoenix. Today, the local-credit union announced the next class of nine nonprofits to receive grants which support hyper-local efforts in the community. Total grants gifted this round total $29,500 with an overall program totaling nearly $110,000 going directly to nonprofits with operating budgets of under $2M annually.
Gateway Bank ranks 13th of Top 100 Community Bank
Gateway Bank | May 2022
S&P Global Market Intelligence released its annual rankings for 2021’s best-performing community banks with assets between $3 billion and $10 billion, community banks with assets below $3 billion and top-performing credit unions. The organization also introduced a new category – top performing U.S. public banks – that ranks the financial performance of publicly-traded banks with more than $10 billion in total assets at year-end 2021.
CFPB Report Highlights Reliance on Community Banks in Rural Areas
ABA Banking Journal | April 19, 2022
In a data snapshot published today, the CFPB highlighted some of the unique challenges facing rural Americans, including an increased reliance on physical bank branches, given the limited access to high-speed internet and online banking options in many of these communities. The CFPB noted that rural customers visit bank tellers—often at community banks—“at nearly double the rate of urban and suburban customers,” according to a 2020 FDIC analysis.
Local Muralist Brings Style And Substance To Vantage West Headquarters
Vantage West Credit Union | April 19, 2022
Personal finance isn’t typically the first thing we associate with art. In fact, the two can sometimes be perceived as diametrically opposed to one another, with artists often portrayed as types unconcerned with money. But for Tucson-based artist Karlito Miller Espinoza, the worlds of finance and art are linked throughout his life.
After Karlito’s family moved to Venezuela when he was child, Karlito’s father taught financial literacy, running a program that helped female entrepreneurs find loans.
The Arizona Republic | April 18, 2022
Housing discrimination, including disastrous government-supported redlining is hurting south Phoenix neighborhoods more than 50 years after it was struck down as illegal and predatory.
Neighborhoods across south Phoenix still have low homeownership rates among Black and Latino people after areas south and east of downtown were redlined by the federal government in the 1930s.
'Banking While Black': Free Art Exhibit in Metro Phoenix Explores Racism. How to See it
AZ Central | March 15, 2022
The project, a reconstructed 1930s bank, is commissioned and presented by Arizona State University’s 365 Community Union, a department within ASU Cultural Affairs.
The interactive exhibit will highlight three thriving Black Wall Streets — in Tulsa, Oklahoma; Durham, North Carolina; and Richmond, Virginia — before they were destroyed. "Banking While Black" also will present the history of violence against Black people, integrating the struggles of the past with those of the present.
UPI Loan Fund aims to become Arizona's first Black-owned CDFI lender
Phoenix Business Journal | January 11, 2022
The Unified Progress International (UPI) Loan Fund is a nonprofit organization dedicated to offering low- and no-interest loans to low-income people, with a special focus on serving Arizona’s Black population. The group is an emerging Community Deposit Financial Institution, or CDFI, meaning its founders hope to earn the CDFI designation from the Treasury Department later this year.
Scottsdale Community Bank opens for business, first Arizona bank to launch in 14 years
ABC 15 | January 11, 2022
Scottsdale Community Bank, a startup bank that has been preparing to launch for years, received its state charter on Monday, making it the first new bank, known as a de novo, to open in Arizona in 14 years.
Arizona Federal Gives $3M Bonus Payout to Members
AZ Big Media | January 7, 2022
As part of the credit union’s Member Bonus Payout program, Arizona Federal Credit Union announced today the distribution of a $3 million year-end bonus to its members. Since 2012, the credit union has returned more than $45 million in bonus payouts to participating members.
4 Credit Unions Split $100,000 in MDI Mentoring Grants from NCUA
Credit Union Times | December 16, 2021
“The program helps small, low-income, minority depository credit unions establish mentoring relationships with larger, low-income-designated credit unions that provide guidance in serving low-income and underserved communities,” the NCUA said in a statement.
Southeastern Arizona Federal Credit Union in Douglas, Ariz., with MariSol Federal Credit Union in Phoenix serving as a mentor.
Here are the Lessons Banking Leaders Learned from the Pandemic
Michael Gossie | November 30, 2021
Many of Arizona’s most influential leaders in the financial services sector learned lessons about their businesses and about themselves during the pandemic. Here is a look at some of those lessons learned.
Jennifer Kimmell | August 16, 2021
Many people may be unfamiliar with how a credit union is different from a bank. Understanding the differences may help you decide where you want to bank and the local choices you have in the Valley.
Building a Business as a Latino Entrepreneur
BankRate | June 15, 2021
Small-business revenue took a hit over the last year because of the coronavirus pandemic, and Latino-owned businesses were no exception. In June 2020, 74 percent of Latino-owned businesses surveyed by the Stanford Latino Entrepreneurship Initiative reported revenue decline, and 18 percent reported an increase in costs.
Many Latino credit unions offer the same promise, and here’s a complete guide to Latino credit unions across the United States:
Why Millions of Americans are Now Tapping Credit Unions for Loans
CNBC | February 4, 2021
It's not surprising that many Americans have received loans in the past year given record low-interest rates, but research shows that credit unions tend to lend more than commercial banks during times of crisis; credit unions continued to lend and even increased lending during the current pandemic crisis. By comparison, banks have tended to pull back or even reduce lending during crises.
Dangerous Heat, Unequal Consequences
AZ Central | March 19, 2021
Heat-related illnesses are soaring in Arizona as the planet warms and temperatures rise. Poor communities are bearing the brunt of sickening heat in these states, an analysis by Columbia Journalism Investigations and the Center for Public Integrity found. Experts say racist policies of the past created conditions, never corrected, that makes the heat more dangerous for people there today.
OneAZ Community Foundation Pledges $290k to AZ Nonprofits in 2021
Press Release Desk | March 22, 2021
In celebration of OneAZ Credit Union's 70th anniversary, OneAZ Community Foundation has pledged to award over $250,000 to Arizona nonprofits in 2021. The Foundation is set to launch a new bi-monthly grant program and a 70th-anniversary matching grant program later this year.
Forbes recognizes TruWest as America’s Best Credit Union in Arizona
AZ Big Media | July 15, 2020
TruWest Credit Union has topped the Forbes list of America’s Best Credit Unions, ranking No. 1 in the state of Arizona.
Scores for the financial institutions were based on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services and financial advice).
Phoenix Business Journal | January 19, 2021
Arizona Federal Credit Union has joined the web series "The Community Collaborative" to continue to support and promote diversity and inclusion efforts across Arizona.
Ranking Arizona: Top 10 Credit Unions for 2021
AZ Big Media | March 14, 2021
Here are the Top 10 credit unions in Arizona, based on public voting for the 2021 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend doing business?
The Big Rethink: Credit Unions on Changes Driven by Pandemic
American Banker | March 22, 2021
As the nation passed the pandemic’s one-year anniversary, credit union leaders from across the country reflected on some of the biggest lessons they’ve learned in the past 12 months. Read on for some of their responses.
The Economic Benefits of Climate Action: Marcelo Mena
TED | May 26, 2020
Marcelo Mena, the former environment minister of Chile, is on a mission to create a zero-emission economy in his country by 2050. In a conversation about climate action, he discusses how the COVID-19 pandemic is changing Chile's ambitious plan to tackle climate change -- and explains why the green recovery needs to be powered by both political leaders and citizens alike.
Community Banks: A Local Banking Partner Who Cares
Washingtonian | 2021
If you’ve ever found yourself questioning whether you’re getting the most out of your banking relationship, you aren’t alone. While the idea of switching your finances to a local community bank may seem like a daunting to-do, it’s just a few simple steps that can pay dividends for your overall financial well-being or business growth—all achieved while supporting and strengthening the very community you call home.
Small Banks Helped Businesses Win More PPP Loans
PEW | December 15, 2020
The program gave employers up to 2.5 times their monthly payroll in loans and allowed those loans to be forgiven provided employers avoided layoffs and used the money to pay their employees and rent or mortgage.
The History of Allenville: A Black Community in Arizona Lost to Floods
AZ Central | 2021
Redlining, a practice in which the federal government refused to insure bank mortgages in neighborhoods of color, often prevented Black families from homeownership In Arizona. It was for that reason that Allenville was so special to the families who called it home. They owned property, trusted their neighbors and built a small-scale society.
Vantage West Credit Union and DBSI
DBSI | 2021
Vantage West Credit Union was looking to make a bigger name for itself by evolving its retail presence through a series of transformed branches. After an extensive RFP process, Vantage West knew that DBSI was the only firm that could provide everything they needed.
Fighting Monopoly Power: Banking
Institute for Local Self-Reliance | July 16, 2020
There are only a handful of banks in the U.S. that are behemoth in size, but they currently hold most of the country’s assets. These “megabanks” — including “Big Four” Wells Fargo, Citigroup, Bank of America, and JP Morgan Chase — not only swindle their customers, and taxpayers, to plump shareholder pockets, they fail to meet the financial needs of local businesses and communities.
Racism Has A Cost For Everyone
TEDWomen | December 2019
Racism makes our economy worse, and not just in ways that harm people of color, says public policy expert Heather C. McGhee. From her research and travels across the US, McGhee shares startling insights into how racism fuels bad policymaking and drains our economic potential -- and offers a crucial rethink on what we can do to create a more prosperous nation for all.
How the PPP Is Failing America's Small Businesses
Inc. | May 8, 2020
When the U.S. government authorized the now $669 billion forgivable loan program at the end of March, it was heralded as a lifeline for besieged small businesses. It is not that.
Banks Won’t Stop Funneling Billions Of Dollars Into The Fossil Fuel Industry
Fast Company | March 20, 2020
Despite their claimed support for the Paris Climate Agreement, major global banks have not only continued to pour billions of dollars into the fossil fuel industry since 2015, they financed more fossil fuel extraction and infrastructure companies in 2019 than the year prior—funneling billions into new coal, oil, and gas projects even as experts warn that we need to stop burning these fuels.
Homeownership gap among many economic disparities facing Black Arizonans
Arizona Republic | June 24, 2020
Black Americans trail whites and all Americans generally in several financial measures, including homeownership rates, median net worth and emergency savings on hand. They tend to earn less and have less-secure jobs, as seen in an African American unemployment rate that has spiked amid the coronavirus pandemic.
Wells Fargo Forced To Pay $3 Billion For The Bank’s Fake Account Scandal
Forbes | February 21, 2020
Wells Fargo, the fourth largest bank in the United States, agreed on Friday to pay $3 billion to settle its long-running civil and criminal probes into the heinous accusations of rampant fraudulent sales practices. The San Francisco-based bank announced that it will pay the substantial financial penalty to both the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Roughly $500 million of the fine will be allocated to the SEC. The regulator will use the funds from the settlement to offer some restitution to the the defrauded customers.
NPR | July 8, 2020
Hosts Stacey Vanek Smith and Darius Rafieyan discuss the #bankblackmovement which encourages people to take their money out of big mainstream banks and deposit it instead into Black-owned financial institutions. This idea is not a new one.
East Lake Park Survey to Launch Black-Owned Credit Union
The Phoenix Local Organizing Committee
Phoenix Local Organizing Committee's Ministry of Trade and Commerce is working to establish a Credit Union in the Phoenix area. The purpose of this survey is to find interested and potential members and learn what services would be beneficial.
The Economic Benefits of Climate Action
TED2020 | May 2020
In a conversation about climate action, the former environment minister of Chile Marcelo Mena discusses how the COVID-19 pandemic is changing Chile's ambitious plan to tackle climate change -- and explains why the green recovery needs to be powered by both political leaders and citizens alike.
Environmental Racism Has Left Black Communities Especially Vulnerable to COVID-19
The Century Foundation | May 19, 2020
As a patchwork of demographic data on COVID-19 is released, it is becoming clear that Black communities across the country have been the hardest hit by the pandemic, both contracting and dying from the disease at rates far out of proportion.
JPMorgan Faces Criminal and Civil Probes Over Mortgages
Reuters | August 7, 2013
JPMorgan Chase & Co, (JPM.N) the biggest U.S. bank by assets, said on Wednesday it is being investigated by criminal and civil divisions of the U.S. Department of Justice over offerings of mortgage-backed securities. The civil division gave the company a notice in May that it had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007, JPMorgan said.
The Hidden Constitutional Costs of the Carceral System
The Atlantic | June 23, 2020
Thousands of Americans have protested in recent weeks, outraged at repeated and brazen displays of police violence. While the brutality against black people and protesters of all races has rightly been the focus of their anger, the twin institutions of policing and mass incarceration impose other grave, often-overlooked costs on black communities.
I've Been to the Mountaintop (Speech)
Martin Luther King Jr. | April 3, 1968
In this speech supporting the striking sanitation workers of Memphis — delivered on April 3, 1968, the day before he was assassinated — Dr. Martin Luther King, Jr. calls on the audience to move their money from "the banks downtown".
Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement
U.S. Department of Justice | August 21, 2014
The Justice Department and the bank settled several of the department’s ongoing civil investigations related to the packaging, marketing, sale, arrangement, structuring and issuance of RMBS, collateralized debt obligations (CDOs), and the bank’s practices concerning the underwriting and origination of mortgage loans.
My Black Year: Maggie Anderson
TEDxGrandRapids | June 17, 2014
Margarita Anderson and her family were featured in national headlines as they lived exclusively off Black businesses, professionals and products for an entire year. Her stand, chronicled in her book, "Our Black Year," was called The Empowerment Experiment.
AbolishPrivatePrisons.org | December 2019
Phoenix attorney John Dacey quit his private practice to focus on challenging the existence of the private prison industry, which he believes exploits the convicted for profit. He and his dedicated team plan to bring a case against the industry all the way to the Supreme Court. The effort started with a lawsuit filed in June 2020. The NAACP joined John's team for the case.
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