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CDFI Fund certifies 11 new CUs
WASHINGTON (12/17/09)--The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund has announced that 11 credit unions have been certified as CDFIs during the fund’s most recent round of certifications, which took place between August and November of this year. The newly certified credit unions are Brewton Mill FCU, Fairfax County FCU, First Peoples Community FCU, Kerr County FCU, Maine Highlands FCU, Marvel City FCU, NCI Community Development CU, New Covenant Dominion FCU, New Pilgrim FCU, Table Rock FCU, and Union Baptist Church FCU. All of the credit unions serve low-income communities or other various groups in their states, which include Alabama, Indiana, Maryland, Maine, Missouri, New York, Texas, and Virginia. A total of 160 credit unions are currently certified under the CDFI program, which helps locally based financial institutions offer small business, consumer and home loans in communities and populations that lack access to affordable credit. The program added a total of 34 new certified CDFIs between August and November of this year. The new CDFIs are spread throughout the country, with headquarters in Alabama, Arkansas, California, Colorado, Washington D.C., Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Missouri, North Carolina, New Hampshire, New York, Ohio, Pennsylvania, Texas, Virginia and Washington. The CDFI program will make a total of $113 million in funding available in 2010.


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