North Bay Credit Union Earns Community Development Certification from U.S. Treasury

North Bay Credit Union is working to make a difference in the lives of its members and community.

The U.S. Treasury Department’s Community Development Financial Institutions Fund recently certified North Bay Credit Union as a Community Development Financial Institution (CDFI). This designation is available only to organizations that have proven they provide financial services and products in communities that historically have lacked access to traditional banking services. CDFI Certification is granted with the purpose of generating economic growth and opportunity in some of our nation's most distressed communities.

North Bay Credit Union CEO Chris Call says this certification is a validation for years of work the credit union has done to ensure banking services are available to everyone in the North Bay. “As a CDFI-certified credit union, we are able to meet the needs of economically disadvantaged individuals within our underserved communities.”

He noted that a recent study by MightyDeposits.com stated the credit union stands out for financing low-income communities and/or communities of color.

The CDFI Fund was established in 1994 to boost lending and community development through certified CDFI lenders, allowing them to expand their reach into economically distressed areas and underserved communities. CDFI Certification opens opportunities for institutions to access CDFI Fund grants, which must be used to support financially vulnerable residents and communities.

North Bay Credit Union has $112 million in assets and offers a full range of loans, including mortgages, vehicle loans, home loans, agricultural loans, and private student loans. The credit union is federally insured by the NCUA and serves everyone who lives, works or worships in Sonoma, Marin, Napa and Solano counties.

Learn more about North Bay CU at www.NorthBayCU.com
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