Greenville Heritage Federal Credit Union Receives CDFI Certification

Promotes financial inclusion in Greenville County

GREENVILLE, SC – Greenville Heritage FCU is pleased to announce its certification by the US Treasury’s Community Development Financial Institutions (CDFI) Fund.  There are 808 certified CDFIs in the US, including loan funds, credit unions and community banks.  To receive this certification, financing organizations must have a primary mission of promoting community development and provide development services in conjunction with its financing activities.

CDFI certification allows Greenville Heritage FCU to better serve the low and moderate-income consumers and promote financial inclusion in Greenville County.  The benefits of certification include access to financial grants from the CDFI Fund, partnership opportunities with banks that are seeking Bank Enterprise Awards, access to New Market Tax Credits and the enhanced ability to raise funds from foundations, corporations and state and local governments.  Prior to certification, Greenville Heritage FCU had received Low Income Designation from the National Credit Union Administration (NCUA), providing Greenville Heritage FCU with the option to accept deposits from non-members, offer secondary capital accounts and receive exemption from the aggregate limit on member business lending.

“Community Development Financial Institutions provide important access to affordable financial services for persons of modest means.  We are proud to join the ranks of the 808 certified CDFIs, which represents confirmation of our commitment to serve lower income individuals in the Greenville community,” said Alan Berry, President/CEO of Greenville Heritage FCU.

The stated Mission of Greenville Heritage FCU is to promote the personal financial success of our member owners by providing affordable financial services. Greenville Heritage has a long history of serving low-income members and over the last few years has added products to help them break the cycle of payday lenders and offered financial counseling to help them improve their credit scores, so they can receive better jobs and lower loan rates and insurance premiums.

Greenville Heritage FCU worked with the National Federation of Community Development Credit Unions’ consulting group, CU Breakthrough, on CDFI certification.  “CDFI certification is a valuable credential that helps credit unions increase their capacity to meet the needs of low-income consumers and to develop strategic partnerships to better connect with the community,” says Pablo DeFilippi, VP of Membership and Business Development at the Federation. “Low income designation combined with CDFI certification are the building blocks for sustainable growth in communities in Greenville County.

For more information on Greenville Heritage FCU, its products or services, please call 467.4160 or visit the credit union’s website atwww.greenvilleheritage.com.

Greenville Heritage Federal Credit Union was established in 1941 as a not-for-profit financial institution to serve City of Greenville employees. Later the charter was expanded to include Greenville County employees and various other select employee groups. Now, Greenville Heritage has a community charter and anyone who lives, works, worships or attends school in Greenville County can join. Greenville Heritage FCU has a full range of financial products and services designed to improve the financial lives of its members.