MyUSA earns Community Development Certification to better serve Southwest Ohio
Federal Government recognizes key role of community development financial institutions
MIDDLETOWN, OHIO (May 15, 2023) — 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.
About MyUSA Credit Union
MyUSA Credit Union, now a certified community development financial institution, has been proudly serving Ohioans for nearly a century. From our humble beginnings in the steel and communications industries to a forward-thinking and inclusive institution serving all of the Miami Valley, we are now stronger than ever with more than $330 million in total assets and over 20,000 members. We’re focused on being your Best Financial Friend (BFF) for life by building the strongest communities possible through financial education. Our Greater Miami Valley team works one-on-one with Members each day to help them achieve more by making smart financial decisions. Learn how easy it is to join us at www.MyUSAcu.com.
