The $73 million, 9,500-member Bridgeway Federal Credit Union in Poughkeepsie, N.Y., has been recognized as a community development financial institution by the Community Development Financial Institutions fund.
Becoming recognized as a CDFI by the Treasury Department program allows the credit union to compete for grants from the CDFI fund to train its staff as financial counselors and to fund specific programs and products such as micro-lending and predatory loan alternative products.
Bridgeport FCU's CEO, Michelle McCourt, said the credit union has a long history of working with financially underserved members and their communities and that going through the process to obtain CDFI recognition would enable Bridgeway to keep up this work.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
