Service One Credit Union awarded CDFI grant approval to support underserved communities
BOWLING GREEN, KY (May 19, 2023) — The U.S. Department of Treasury has approved Service One Credit Union (SOCU) as a Community Development Financial Institution (CDFI). The CDFI designation better positions SOCU to offer loans, financial education, and other services to individuals and businesses that have been traditionally underserved by the financial industry.
“We are very pleased to be the second credit union/bank in the state of Kentucky to be approved as a CDFI,” said Rebecca Stone, SOCU President and CEO. “It is a testament to our ongoing initiatives to serve the financial needs of all members of our community, particularly those who have been underserved or overlooked by traditional financial institutions.”
As a CDFI, SOCU will have access to additional resources and funding opportunities to support its mission of creating opportunities and fostering economic growth in the communities it serves. The credit union serves 19 counties in South Central and Western Kentucky.
About Service One Credit Union
Service One Credit Union was organized in 1963 in Bowling Green, KY as a not-for-profit financial cooperative, and serves those who live or work in South Central and Western Kentucky. Service One Credit Union’s purpose is Service to Others. For more information on Service One and its community involvement activities, visit www.socu.com or call (270) 796-8500.