Community HOPE Federal Credit Union Earns CDFI Certification

Community HOPE Federal Credit Union (HOPE; www.communityhopefcu.org) is pleased to announce that the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has certified HOPE as a Community Development Financial Institution (CDFI).

CDFI certification means that HOPE meets the requirements described in the CDFI Program regulations. These requirements include the following: having a Primary Mission of promoting community development; predominantly serving and maintaining Accountability to eligible Target Markets; being a Financing Entity; providing Development Services; and being neither a government entity nor controlled by a government entity.

Community Development Financial Institutions—or CDFIs—emerged in response to a lack of access to responsible and affordable credit and capital in minority and economically distressed communities. The CDFI “movement” took shape in the 1970s with the passage of the Community Reinvestment Act, which encourages financial institutions to meet the needs of all sectors of the communities they serve.

Today, with the CDFI Fund’s help, what started as a grassroots movement has grown into a thriving sector of the financial services industry that is meeting the needs of communities across the country. The institutions the CDFI Fund serves have enhanced their capacity, sustainability, and impact. The CDFI Fund, in turn, has evolved to meet their needs, offering new programs to further community transformation.

Community HOPE’s charter enables it to serve approximately 40,000 residents and 25,000 students who live, work, worship, attend school, participate in associations headquartered in, or participate in programs to alleviate poverty or distress located in a prescribed community in Lincoln from its office at 1625 N St., STE A, in Lincoln’s Antelope Valley area.

Community HOPE Federal Credit Union was chartered June 5, 2017 as a community credit union with the added designation as a low-income credit union. They can be reached at (402) 476-0376 / info@communityhopefcu.org / www.communityhopefcu.org.