Orange County CU Works With CU Strategic Planning to Earn CDFI Certification
SANTA ANA, Calif.–The $2-billion Orange County’s Credit Union is reporting it has been certified as a Community Development Financial Institution (CDFI) by the Treasury Department. Spokane, Wash.-based CU Strategic Planning was selected by Orange County’s CU to assist in obtaining the CDFI designation.
“We are honored to have received CDFI certification,” said Shruti Miyashiro, CEO of Orange County’s Credit Union. “As a CDFI, we will be able to significantly expand our commitment of providing fair, affordable and accessible services that address challenges faced by low-income families and communities.”
In total, 61% of Orange County’s CU’s membership qualifies as being at least low-income. More than half, 55%, are considered very low income, while 21% are extremely low-income, based upon sample testing of the credit union’s loans performed to submit with the certification application, the credit union said.
“We are very excited to see what Orange County’s Credit Union will achieve with their new CDFI certification,” CU Strategic Planning Director of Certification Carrie Ostrem said. “The team there was amazing to work with and truly believed with a passion in their community development goals. CU Strategic Planning loves working with our credit union clients to help them unlock the potential in their communities.”
Added Amber Cisneros, chief member experience officer for Orange County’s Credit Union, “CU Strategic Planning have been valued advisers throughout the entire certification process. We appreciate the collaboration and guidance they’ve provided to ensure we could receive CDFI certification.”
The credit union said it plans to apply for grant funding in 2021 to continue assisting local communities.