Community CU Receives CDFI Certification

Community Credit Union’s Senior Leadership Team and Board of Directors from left to right: Andrew Lunn, Executive Vice President; JoAnn Jackson, VP of Financial Operations; Barry Schmieks; Elizabeth Keene; Alfreda Fournier; Kate Adams; Betsy Sibley, VP of Marketing; Jon Butler; Jennifer Hogan, President/CEO; Marcel Gagne; and Bruce Bilodeau. This photo was taken prior to the pandemic.

Community CU was recently certified as a Community Development Financial Institution (CDFI) after an extensive application process. The U.S. Department of the Treasury recognizes financial institutions with CDFI Certification if they serve low-income communities and individuals. CDFIs are committed to ensuring that underserved communities have access to quality, affordable, and credible financial services.

There are less than ten CDFIs in the state of Maine. Having this special certification allows Community CU to join a network of mission-driven institutions serving and empowering economically distressed communities. This translates into real change for communities and people who need it most.

“Our vision for our credit union, members, and the community is so well-aligned with the mission of CDFIs across the country,” said Jennifer Hogan, President/CEO of Community CU. “The Board of Directors and team at Community Credit Union is excited about the opportunity to learn from other CDFIs and apply for grants and resources that will broaden our impact in the community and our efforts to help people achieve financial wellness.”

Expanding economic opportunity in their community and providing access to financial products and services for local residents and businesses is what led Community CU to apply for CDFI Certification.