LAFCU just took home the Michigan Credit Union League‘s 2026 Innovation Award, and it wasn’t for rolling out some flashy new app or cryptocurrency gimmick.
The credit union earned the prize for launching the StableCommunities Foundation—an independent nonprofit that’s taking a completely different approach to community investment. Think less traditional philanthropy, more strategic partnership with the people who know their neighborhoods best.
The award was presented at the Annual Convention & Exposition in Grand Rapids, held June 2-4. And here’s a fun fact: this is LAFCU’s sixth Innovation Award win out of their last ten entries. Clearly, they’re doing something right.
Beyond the Bank: A Different Kind of Investment
So what makes this foundation different? It’s built on a community-first model that ditches the one-size-fits-all approach. Instead of just cutting checks and calling it a day, StableCommunities focuses on flexible support for families, small businesses, and grassroots organizations—especially in areas that have historically been starved of capital and investment.
“This award affirms that meaningful innovation isn’t always about launching a new product—it’s about rethinking our responsibility to the community,” said Patrick Spyke, LAFCU’s CEO. “StableCommunities Foundation represents our commitment to stepping beyond traditional financial services to invest directly and thoughtfully in the people and organizations working every day to strengthen communities across Michigan.”
The Proof Is in the Pudding (and the Cheesecakes)
Even before its official public launch, the foundation was already making moves. In 2025 alone, it distributed more than $270,000 in grants and sponsorships. But the real story isn’t just the dollar amount—it’s where that money went and how it got there.
“The foundation was built to listen first and act with intention,” explained Kelli Ellsworth Etchison, who serves as both the foundation’s CEO and LAFCU’s chief marketing officer and chief diversity officer. “By building trusted relationships and staying closely connected to community partners, we’re able to identify gaps, respond in real time and direct resources where they can create immediate stability and long-term opportunity.”
That philosophy translated into some pretty tangible wins:
- Golden Tier Bakery got funding to build a dessert trailer, expanding their reach
- Mr. Leslie’s Cheesecakes received support for equipment upgrades and facility improvements
- Capital Area Housing Partnership secured computers for residents who needed them
- Southside Community Coalition got backing for youth programming and staffing
Notice a pattern? These aren’t random acts of charity. They’re strategic investments in organizations that are already deep in the work, already trusted in their communities, already making a difference.
Recognition Where It’s Due
“We received a strong number of nominations this year for the MCUL Awards, highlighting the outstanding contributions of credit unions across Michigan,” said Patty Corkery, president and CEO of the Michigan Credit Union League. “LAFCU earned the Innovation Award for its role in launching the StableCommunities Foundation and advancing a relationship-driven approach that delivers support and strengthens communities.”
In a world where “innovation” often just means “new technology,” it’s refreshing to see an award go to something more fundamental: rethinking how financial institutions show up for the communities they serve. LAFCU is proving that sometimes the most innovative thing you can do is simply ask better questions—and then actually listen to the answers.
Related:
Four Michigan Students Win $5K Each for Tackling Real Problems in Their Communities
LAFCU’s Free Financial Education Program Is Changing Lives