The U.S. Treasury Department's Community Development Financial Institutions Fund has recognized the Baltimore, Md.-based SecurityPlus Federal Credit Union as a CDFI, the credit union announced.

The recognition enables the $365 million SecurityPlus to better serve low- and moderate-income consumers, the credit union said. Benefits of certification include access to financial grants from the CDFI Fund, access to funds from the New Market Tax Credits program and the enhanced ability to raise funds from foundations, corporations and state and local governments.

Prior to certification, SecurityPlus also received a low income designation from the NCUA.

SecurityPlus CEO Brett Noll said, “We have been pursuing CDFI Certification for many months, and both our staff and Board are very excited to receive this designation. Becoming a community development financial institution expands our ability to fulfill our brand promise of creating a positive difference in the lives of members and within the communities we serve.”

The addition of SecurityPlus means that 177 credit unions nationwide have been recognized as CDFIs.