MyUSA Credit Union is working to make a difference in the lives of our members, consumers and our community. By leading financial education efforts locally and providing more affordable products and services to benefit everyone who calls Southwest Ohio home, we’ve built a strong history of service.
The U.S. Treasury Department’s Community Development Financial Institutions Fund recently certified MyUSA 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.
“Our new CDFI Certification will help us provide much-needed financial education, affordable loans and money management solutions to even more Southwest Ohioans,” said Jim Miles, CEO of MyUSA Credit Union. “We’re grateful for the opportunity to expand our services, especially within distressed pockets of the community and with individuals who may have lacked access to traditional banking services in the past.”
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.
MyUSA 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.”
Now officially a CDFI, MyUSA is looking forward to taking its next steps to better serve the hard-working Ohioans who could benefit most from access to a not-for-profit credit union. We invite everyone in the community to follow the credit union on social media, visit www.MyUSAcu.com for the latest news and free access to financial education resources, or stop by your local branch to discuss your financial goals.