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CDFIs Strengthen Families in Crisis

Some of the fastest growth among credit unions happens when focus shifts to serving those most in need.

By Jim DuPlessis | Updated on October 20, 2017

Some of the fastest growth among credit unions is happening where credit unions focus on serving the neediest in their communities.

Nearly one in 10 credit union members in August belonged to a credit union that the U.S Treasury Department has certified as a Community Development Financial Institution.

Credit unions accounted for 324 of the nation’s 1,142 CDFIs in August, up from 243 in 2015. Their 9.6 million members held $97.7 billion in assets in June. They range in size from Suncoast Credit Union in Tampa, Fla., ($8.5 billion in assets, 722,362 members) to Union Baptist Church Federal Credit Union of Fort Wayne, Ind. ($141,369 in assets, 302 members).

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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