CSE Federal Credit Union becomes latest CU Strategic Planning client to earn CDFI Certification
Community is 82% low income
TACOMA, WA (November 3, 2020) — CSE Federal Credit Union in Canton, Ohio, is ready to shout its Treasury Department’s Community Development Financial Institution status from the rooftops. The $319 million credit union gives credit to CU Strategic Planning for seeing its application through the process.
“We certainly want to get word out about this new badge that we have to show. It’s something that we will share proudly and with anyone who will listen,” CSE FCU COO Jeannie Fye said.
CSE’s loan portfolio analysis revealed that 82% of its borrowers were considered low income, with 54% qualifying as very low income. More than one quarter (27%) qualified as extremely low income.
“We have worked very hard to help our community become more financially fit in a number of different ways,” Fye said. “At the same time, it provides some added motivation to figure out additional ways to make an impact on our members lives and provide a different way of banking for prospective members. We’ve always been committed to our community, but this allows us to do so much more.”
CSE FCU added that its experience with CU Strategic Planning has “far exceeded our expectations.” Fye explained, “We had high expectations coming in, but the level of service, responsiveness, leadership and organization on such a robust and extensive project, such as completing the CDFI application and the early stages of applying for grant monies has been absolutely top-notch. They know what they are doing, and they do it well.”
“I’m so very happy that CSE not only got approved, but also has been so pleased with the support we’ve provided,” CU Strategic Planning Director of Certification Services Carrie Ostrem said. “I’m blushing at Jeannie’s kind words; we really do feel passionate about helping credit unions unlock opportunities in their communities. CU Strategic Planning can’t be successful without our awesome clients, like CSE!”
CSE FCU’s certification qualifies them for grants from the CDFI Fund in 2021. “We do plan on applying for a grant and are excited to continue to work out the specifics with regard to what we would utilize the funds for, but we have a few ideas that are leading the way!” Fye added.
About CU Strategic Planning
Since 2008, CU Strategic Planning has provided business planning services for credit unions, focusing on community development. The company is the No. 1 CDFI certification, grant-writing and compliance firm for credit unions in the country. Through grants, strategic and tactical planning, community summit facilitation and more, CU Strategic Planning achieves its mission to unlock opportunities for credit unions to change lives and their communities. CU Strategic Planning’s expert consulting includes securing and managing compliance for $945 million in US Treasury CDFI grants and related award funding.
