TUCSON, Arizona. (November 19, 2018) – Vantage West Credit Union, southern Arizona’s largest credit union, was recently awarded $950,000 from the U.S Treasury’s Community Development Financial Institutions Fund (CDFI Fund), fueling its initiative to serve low-income and underserved groups in the community to spur economic development.
The grant award will expand Vantage West’s services to southern Arizona residents and businesses that historically lack access to financial services, with the goal of encouraging the community to participate in the mainstream economy. It will further enhance the credit union’s capacity to serve low-income and traditionally underserved groups with fairly priced financial products and services to meet their needs. Of the total, $250,000 will be directed to focus on persistent poverty counties served by the credit union in southern Arizona.
Earlier in June, Vantage West received its CDFI certification from the CDFI Fund, a department of the U.S. Treasury and joined a group of more than 1,000 CDFIs nationwide, becoming the largest credit union in Arizona to receive this distinction.
CDFIs like Vantage West are mission-driven financial institutions, dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities. CDFIs invest in local communities and the residents who live there, providing critically needed financing often unavailable from mainstream financial institutions.
Certified CDFIs are a part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, rebuilding neighborhoods, and providing access to consumer financial products.
Today, Vantage West is driven by its mission to build collaborative relationships with the Members and communities it serves, so everyone thrives. This entails providing innovative financial products and services to help consumer and business Members achieve financial success.
About Vantage West Credit Union
Vantage West, southern Arizona’s largest credit union, is on a mission to ignite collaborative relationships with their Members and the communities they serve, so all can thrive together. Vantage West offers consumer and business banking services, and is federally insured by NCUA. VantageWest.org
About the CDFI Fund
Since its creation in 1994, the CDFI Fund has awarded more than $3 billion to CDFIs, community development organizations, and financial institutions through: the BEA Program; the Capital Magnet Fund, the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $54 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds in the amount of $1.36 billion through the CDFI Bond Guarantee Program.
To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at www.cdfifund.gov.
Vantage West Credit Union