TAPCO Credit Union Earns Community Development (CDFI) Certification to Better Serve Pierce County and South Sound

TAPCO Credit Union Earns Community Development Certification to Better Serve Pierce County and South Sound
Federal Government recognizes key role of community development financial institutions

Hard-working people in Pierce County have not received the economic opportunities they deserve. TAPCO Credit Union is working to make a difference in the lives of our members, consumers and community.

The U.S. Treasury Department's Community Development Financial Institutions Fund recently certified TAPCO 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 lack access to traditional banking services. CDFI Certification is granted with the purpose of generating economic growth and opportunity in some of the nation's most distressed communities.

Justin Martin, CEO of TAPCO CU, noted, "TAPCO plans on leveraging this certification to obtain grant funding to further expand our products and services to address areas of inequity in our community. We are thankful for the opportunity to earn this designation, as future grant funding will allow us to do more for our community and the people the financial system has historically underserved."

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

TAPCO Credit Union partnered with CU Strategic Planning, the largest credit union consultancy focused on CDFI certification and grant fund applications, as well as strategic planning, financial empowerment and DEI (Diversity, Equity and Inclusion) initiatives. "The work our client credit unions do to unlock opportunities within their communities is essential to help eliminate banking deserts, eradicate predatory lending and reduce generational poverty across the United States," CU Strategic Planning CEO/Co-Owner Stacy Augustine said. "CDFI certification opens pathways to additional capital that credit unions can then pump into their communities to improve the lives of their members and those around them."

"Our next step will be to work with CU Strategic Planning to analyze data around underserved populations in our area. We will seek CDFI grant funding to add products and services that will leverage access to financial services and help address systematic issues perpetuating exclusion from the financial system," stated Justin Martin.

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TAPCO Credit Union
6312 19th St W
Tacoma, WA 98466

253.565.9895
www.TAPCOcu.org

Angel Everard - AVP Marketing
Angel.Everard@TAPCOcu.org

About TAPCO CU
TAPCO Credit Union was founded in 1934 (as City Credit Union of Tacoma) by nine city employees who sought a better way of banking. The credit union's first branch was located under the stairs of the Old City Hall in downtown. As membership grew, the name changed to Tacoma-Pierce County Employees Credit Union and was eventually consolidated to TAPCO Credit Union to represent Tacoma and Pierce County. As Pierce County's oldest credit union, we are proud of our roots in the community.

Membership is available to anyone who lives, goes to school, works or worships in the state of Washington. As a not-for-profit financial cooperative, those who bank with TAPCO are member-owners and benefit from the organization's success. Each member has one vote, regardless of how much they have on deposit, which ensures democratic member control. At TAPCO, we take great pride in bringing humanity to financial services through serving our members each day and helping them reach achieve financial well-being.

About CU Strategic Planning
For 15 years, CU Strategic Planning is the No. 1 CDFI certification and grant-writing firm for credit unions in the U.S. Through grants, strategic and tactical planning, DEIBA consulting, HERO Community Development Financial Counselor training, community summit facilitation and more, CU Strategic Planning achieves its mission to unlock opportunities for credit unions to change lives and their communities. CU Strategic Planning's funding procured for CDFI credit unions has reached $800 million.

This release was published on openPR.