Community Credit Union’s senior leadership team and board of directors, from left, are Executive Vice President Andrew Lunn, Vice President of Financial Operations JoAnn Jackson, Barry Schmieks, Elizabeth Keene, Alfreda Fournier, Kate Adams, Vice President of Marketing Betsy Sibley, Jon Butler, President/CEO Jennifer Hogan, Marcel Gagne and Bruce Bilodeau.
LEWISTON — Community Credit Union was recently certified as a Community Development Financial Institution after an extensive application process.
CDFI Certification is the U.S. Department of the Treasury’s recognition of specialized financial institutions serving low-income communities and individuals.
The CDFI “movement” took shape in the 1970s with the passage of the Community Reinvestment Act, which encourages financial institutions to meet the needs of all sectors of the communities they serve. Many certified CDFIs offer more favorable and flexible loans than traditional lenders.
There are less than 10 CDFIs in the state of Maine. This certification allows Community Credit Union to join a network of mission-driven institutions that serve and empower economically distressed communities.
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