Tucson and Phoenix Credit Unions Unite to Champion Local First Arizona, Expanding Support for Small Businesses Statewide

Tucson Federal Credit Union (TFCU) today announced its continued participation in a coalition of Tucson- and Phoenix-area credit union leaders working together to champion Local First Arizona, a statewide nonprofit dedicated to strengthening Arizona's economy by supporting locally owned, independent businesses.

The collaboration took shape roughly two years ago, when CEOs from local credit unions across Tucson and Phoenix convened to establish a shared community strategy. Out of those conversations grew a joint commitment to raise awareness of the extensive resources credit union funding makes available to local small businesses.

Founded in 2003 by business owner Kimber Lanning, Local First Arizona has grown into one of the largest coalitions of locally owned businesses in the country, working to keep wealth, jobs and decision-making power within Arizona. The organization’s programming spans small business education and mentorship, access to capital and micro-loans, environmental and green-business certification, local food and farm systems, and consumer campaigns encouraging Arizonans to bank locally.

Among the initiatives the coalition supports are the Fuerza Local Business Accelerator, which serves Spanish-preferred entrepreneurs, targeted programs for Black and Indigenous business owners, loan-readiness bootcamps for under-resourced and rural entrepreneurs, and the Arizona Green Business Certification program.

On August 24, TFCU President & CEO Matthew Gaspari and Shaima Namazifard, VP of Business Services, will be featured in a podcast episode highlighting the coalition's work, with a Local First Arizona team member traveling to Tucson to film the session. TFCU and its partner credit unions plan to coordinate photography during filming and to develop a joint press release around the collaboration.

Namazifard, who has spent more than eight years specializing in commercial lending and guides members through SBA 7(a) and 504 loan programs, works directly with small business owners and entrepreneurs across Southern Arizona — making her a natural voice for the coalition's small-business mission.

"At Tucson Federal Credit Union, our partnership with Local First Arizona is a natural extension of the cooperative credit union philosophy. Collaboration is one of the single greatest strengths of our movement and we are inherently stronger together.” said Matthew Gaspari, MBA, President and CEO of Tucson Federal Credit Union. “By working collectively, credit unions prove every day that we can offer our communities access to world-class financial products and services without extracting exorbitant fees to pay back shareholders. Supporting local businesses is a vital initiative in which TFCU has become a major contributor across Southern Arizona. As our credit union has grown, so too has our need to collaborate, our opportunity to serve as a powerful advocate, and our capacity to help Pima County thrive. We know that a strong, vibrant small business environment leads directly to a healthy community for all of us.”

“Small businesses are the heartbeat of our local economy, but too often entrepreneurs don’t know where to turn for the resources, education and capital they need to grow.” said Shaima Namazifard, MBA, Vice President of Business Services. “Our partnership with Local First Arizona allows us to meet business owners where they are and connect them with opportunities that can make a meaningful difference. What makes this collaboration especially powerful is that credit unions aren’t competing over who gets to strengthen our communities – we’re working together to expand access and create more opportunities for Arizona entrepreneurs. When our local businesses succeed, they create jobs, reinvest in our communities and help build a stronger economy for all of us.”

The coalition's work builds on a broader effort already underway: Local First Arizona and Arizona's Credit Unions, the state's credit union trade association, have separately announced a statewide partnership expanding financial education, small business support and access to financial services, including a free Loan Readiness Boot Camp for entrepreneurs preparing to seek financing. Currently, only 7% of Arizona's total deposits sit in Arizona-owned banks and credit unions, according to Local First Arizona.

TFCU and its partner institutions will continue to share updates on the coalition's work, including forthcoming coverage of the August 24 podcast filming and joint press materials developed with Local First Arizona.

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