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One Source FCU Receives CDFI Certification
Friday, May 2, 2014 6:40 AM

One Source FCU has received its certification from the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund.  There are 808 certified CDFI’s in the U.S, including loan funds, credit unions, and community banks. 

One Source FCU is only one of six credit unions which have received their CDFI certification in Washington, and one of three credit unions to be certified in El Paso County. To receive this certification, financing organizations must have a primary mission of promoting community development and providing development services in conjunction with its financing activities.

CDFI certification allows One Source FCU to better serve the low and moderate-income consumers and promote financial inclusion in El Paso County and Las Cruces, New Mexico.  The benefits of certification include access to financial grants from the CDFI Fund, access to New Market Tax Credits, and the enhanced ability to raise third-part funds.  This designation is earned by demonstrating that it is well equipped to serve the financial needs of Hispanic consumers by offering bilingual services and information; affordable products and services; and important financial education to empower Hispanic families.

“Attainment of CDFI status for One Source is a strong validation of our long-standing commitment to our members and to the communities we serve.  It demonstrates that we are not only responsive to our members’ financial needs, but that we recognize the positive impact we can have on their financial well-being.  This is a commitment One Source has made throughout our 77-year history of service to El Paso and Las Cruces,” said Bob Peterson, president/CEO of One Source FCU.