Credit unions in Florida may be able to obtain certification as community development financial institutions thanks to funding from the $6 billion Suncoast Credit Union and the efforts of the National Federation of Community Development Credit Unions.
The National Federation offers a program called CU Breakthrough that consults with credit unions on their efforts to obtain CDFI certification from the U.S. Treasury's CDFI Fund. Suncoast will fund the CU Breakthrough process for up to 10 Florida credit unions, the federation said.
Suncoast Credit Union gained CDFI certification in May 2014 with the assistance of the federation.
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