Inspired by the recent trend, ORNL Federal Credit Union said it will promote and support local small businesses across East Tennessee through a cash mob.
The $1.5 billion credit union in Oak Ridge, Tenn., said its cash mob effort, Small Business Counts, will start in July and will include the promotion and support of two East Tennessee businesses each month.
The locations and meeting dates will be announced one week in advance of each event and have not yet been determined, according to ORNL.
In selecting the local businesses to support as a part of its cash mob program, the credit union said the business should be locally owned and independently operated, have products that cost less than $20 and the owners should give back to the community in some way.
“At ORNL Federal Credit Union, we believe that small business counts. The concept of a cash mob is one that fits perfectly with our core value of community improvement,” said Chris Johnson, president/CEO of the Oak Ridge credit union.
“There are few better ways to build a community than through the support and advocacy of small business, and I hope this program will encourage people to share in our commitment to the well-being of these merchants and communities,” he added.
In related news, ORNL announced Peter Collins has been appointed vice president of business services.
In his new role, Collins will direct the credit union’s business lending and business banking divisions, including staff development, portfolio growth and compliance, according to ORNL.
Collins was previously the owner and managing director at a Cleveland consulting firm specializing in credit and commercial loan analysis and business intelligence, the credit union said.