The CUSO’s founders celebrate the opening of their new venture, the Frenchtown Financial Opportunity Center, at a ribbon cutting ceremony.

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.

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Credit Union Times

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