Kitsap Credit Union expands its reach for those in need of financial assistance with CDFI Designation Grant
BREMERTON, WASH. (April 10, 2023) — Kitsap Credit Union is proud to announce it has been awarded a Community Development Financial Institution (CDFI) grant of $660,000. In January 2022, Kitsap Credit Union shared that it had been designated a Community Development Financial Institution (CDFI). The U.S. Department of the Treasury awards the CDFI designation to institutions that go out of their way to be inclusive of all citizens, including those with economic difficulties.
Gaining the CDFI status last year allowed Kitsap Credit Union the opportunity to apply for federal funding to further provide financial services to those community members in economic need.
“Now that we have been awarded this grant, our credit union will begin to develop plans to allocate the CDFI grants,” said Kitsap Credit Union CEO Shawn Gilfedder. “We are looking to expand our services and products for the underserved populations in our communities, including women’s entrepreneurship and the indigenous population.”
Through these efforts, the credit union’s goals are to help financially educate and support their community and, in turn, promote a healthier local economy.
“For 89 years, Kitsap Credit Union has worked to improve the lives of our members and our community, and we will keep that tradition alive for years to come,” said Gilfedder.
To schedule an interview with Kitsap Credit Union CEO Shawn Gilfedder, please contact Melisa Tropeano at
melisa@mtlcommunications.com or 201.572.1808.
About Kitsap Credit Union
At Kitsap Credit Union, we believe in powering life’s opportunities. We’re deeply committed to our members’ financial wellbeing and the prosperity and quality of life in the communities where we live and serve. As a not-for-profit, member-owned financial cooperative, we put peoples’ needs first. Sure, we offer all the convenient ways to access, transfer, and borrow funds, but our success is built on trust-based relationships and personalized service. There’s no “us” and “them” here. We’re all members. Learn more at kitsapcu.org.
