By Kiara Doyal, The Seattle Medium
Verity Credit Union is preparing to open a new Rainier Valley branch this fall, bringing banking services, free financial education and financial coaching to a South Seattle community where the credit union says it hopes to expand access for residents who have historically faced barriers to traditional financial services.
The Seattle-based credit union’s new branch, located at 8825 Rainier Ave. S., will hold welcome weeks Oct. 5-16, followed by a grand opening celebration Oct. 17. Verity President and CEO Tonita Webb said the decision to establish a presence in Rainier Valley was intentional.
“This location was intentional. We wanted to become part of the fabric of this neighborhood and allow easy access to the branch for the community,” Webb said. “This branch is a direct extension of our mission to co-create pathways to generational wealth and thriving, sustainable communities, and Rainier Valley’s diversity and history make it a community where that mission matters deeply.”
Ziquora Banks, Verity’s chief impact strategy officer, said the branch is intended to serve not only as a place for financial transactions, but as a neighborhood resource where residents can receive financial guidance and connect with other services.
“The new location serves as a neighborhood hub for the community, offering a place where they can get trusted financial services, personalized guidance and community resources,” Banks said. “Our goal is to reach everyone, and especially those residents who have historically had less access to traditional banking services and the opportunity to build generational wealth.”
One way Verity hopes to address those barriers is through its Pathways to Wealth & Resources program, or PWR, which provides free financial education and coaching regardless of whether someone is a Verity member.
The program offers workshops, conversations about money, financial tools and individualized coaching. Participants can use those resources as they work toward goals including homeownership, entrepreneurship and other forms of asset building.
“It’s intentionally designed for people who’ve historically had less access to trusted financial guidance, and it’s judgment-free by design, meeting people wherever they’re starting from,” Webb said.
Webb said overcoming mistrust can be just as important as making financial services physically available, particularly for people who have previously felt excluded or poorly served by traditional financial institutions.
“Traditional financial service institutions often put profitability before community with options that don’t serve people well. We exist to serve our community, building trust, and offering solutions that prioritize people, wherever they are on their financial journey,” Webb said. “The biggest challenges we face are accessing people who will benefit from having a financial service partner, and securing trust when they’ve been mistreated or excluded from financial services.”
Beyond financial education, Verity says its approach includes putting deposits back to work in the communities it serves. According to Webb, approximately 87% of the credit union’s deposits are returned to the local economy through loans to individuals and small businesses.
The credit union also operates Grants for Growth, which provides flexible funding to microbusinesses and nonprofits led by BIPOC, immigrant, LGBTQIA+, women, low-income and veteran entrepreneurs. Its Community Cares initiative provides support and resources to people facing financial uncertainty, including rising costs and layoffs.
For Webb, representation within the institution is another part of building relationships with communities that have historically encountered barriers within the financial system.
“We’re also one of the few financial institutions with a Black woman CEO, a leadership team and board that identify predominantly female,” Webb said. “Opening a branch is the first step. The deeper work is building genuine relationships and making sure people who’ve historically had less access to traditional banking see themselves reflected in this institution.”
Webb said the branch and its financial education resources are intended to support residents over the long term.
“We see this branch, PWR, and resources like Tierra Bonds, our Community Financial Education Specialist, as a long-term foundation for that work,” Webb said.
Verity is beginning its outreach before the Rainier Valley branch’s formal grand opening. The credit union has planned a series of free community activities intended to introduce residents to its staff and services while connecting with organizations already working in the neighborhood.
Those activities include a July 24 community meal with Emerald City Fish & Chips; participation in Seattle Municipal Court’s Community Resource Day at Rainier Community Center on Aug. 21; and the Rainier Beach Action Coalition’s Back2School Bash on Aug. 22. Another community celebration is planned for September, followed by branch welcome weeks Oct. 5-16 and the grand opening celebration Oct. 17.
For Webb, those interactions are intended to help establish relationships before the new location becomes part of residents’ regular financial lives.
“Trust and relationships are essential ways Verity builds and supports thriving, sustainable communities,” Webb said. “We want residents to meet our team, learn more about Verity, and feel genuinely welcomed before we open our doors. We hope that these interactions build the kind of trust and connection that make this branch feel like a true neighborhood hub.”
