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Santa Clara County Federal Credit Union in the heart of Silicon Valley announced Tuesday that the U.S. Treasury Department has certified it as a Community Development Financial Institution (CDFI), a designation increasingly dominated by credit unions.

Santa Clara County FCU of San Jose, Calif. ($963.2 million, 47,787 members) was one of 39 credit unions receiving CDFI certification in May for their commitment to providing financial services to underserved communities, according to Inclusiv, which represents CDFI credit unions. As of May, credit unions accounted for 531 of the nation’s 1,432 CDFIs.

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Jim DuPlessis

A journalist for decades.

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