Credit unions exist to offer affordable services that help people build financial security and to make investments that encourage economic growth in their communities.
Two-thirds of federally-chartered credit unions also carry the "low-income" designation, meaning they serve memberships in which a majority of people belong to households with an income of 80% or less of median family income for their community.
Those credit unions can, by law, take advantage of certain tools and resources, and if they are certified as community development financial institutions, they have access to funding and other assistance from the Community Development Financial Institutions Fund, a department of the U.S. Treasury.
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