Orlando Credit Union Earns Community Development Certification to Better Serve Central Florida

ORLANDO, Fla., April 19, 2023 (Newswire.com) - Hard-working members of Orlando have not received the economic opportunities they deserve. Orlando Credit Union is working to make a difference in the lives of its members, consumers and its community.

The U.S. Treasury Department's Community Development Financial Institutions Fund recently certified Orlando Credit Union as a Community Development Financial Institution (CDFI). This designation is available only to organizations that have proven they provide financial services and products in communities that historically have lacked access to traditional banking services. CDFI Certification is granted with the purpose of generating economic growth and opportunity in some of our nation's most distressed communities. 

"This certification furthers our commitment to servicing segments of communities established throughout Central Florida, including those that are ethnically diverse and economically disadvantaged, with meaningful programs and financial product offerings bringing our vision to life, which is financial well-being for all. We achieve this through our mission to build lifelong relationships by empowering financial momentum," says David Duncan, VP of Member Experience at Orlando Credit Union. 

The CDFI Fund was established in 1994 to boost lending and community development through certified CDFI lenders, allowing them to expand their reach into economically distressed areas and underserved communities. CDFI Certification opens opportunities for institutions to access CDFI Fund grants, which must be used to support financially vulnerable residents and communities.

Orlando Credit Union received assistance in their CDFI application from CU Strategic Planning, the largest credit union consultancy focused on CDFI certification and grant fund applications, as well as strategic planning, financial empowerment and Diversity, Equity, and Inclusion initiatives. "We're incredibly proud of the work our client credit unions do to unlock opportunities within their communities and make a measurable difference in people's lives," Stacy Augustine, CEO and owner of CU Strategic Planning, stated. "CDFI certification validates that these credit unions are already doing the resource-intensive work of serving underserved communities. Most credit unions are already doing the work of CDFIs, and we encourage more credit unions to explore certification to expand their influence and serve even more people living banking deserts and hard-working yet economically disadvantaged people." 

"Our next step will be to engage organizations through partnership and collaboration to affect the needs of people impacted by the benefit provided by CDFI," stated Duncan. 

###

Orlando Credit Union is here to help members utilize better banking solutions to be the leaders of their financial futures. Our service and product offerings are Member designed, enabling ease of banking and building wealth. Join today at www.orlandocreditunion.org. At Orlando Credit Union, we're #investinginU. 

Source: Orlando Credit Union