The $456 million Envision Credit Union and the $179 million Florida State University Credit Union, both based in Tallahassee, Fla., recently formed a new CUSO and partnered with a local church. The result: The opening of a new branch to support the economic development initiatives of an impoverished community.
Executives said they hope the CUSO can develop into a national model for credit unions looking to support revitalization efforts for distressed neighborhoods within small, midsize and large cities across the country.
Chuck Adcock, EVP for FSUCU, said he heard Bethel Missionary Baptist Church's Economic Development Ministry was looking to open a financial services center in Tallahassee's northwest section – the capitol city's historic Frenchtown.
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