Dupaco gets boost to enhance service to low-income communities
The U.S. Department of the Treasury has certified Dupaco Community Credit Union as a Community Development Financial Institution (CDFI). This designates specialized organizations serving low-income communities and people who lack access to financing.
CDFI eligibility requirements include having a primary mission to promote community development, providing both financial and educational services, maintaining accountability to a defined market and more.
Dupaco is one of seven organizations—and one of three full-service financial institutions—in Iowa to receive CDFI certification.
“Dupaco’s mission is to improve each person’s financial position. CDFI certification provides additional tools to enhance the credit union’s long-standing efforts in low-income and underserved communities,” said Dupaco Community Credit Union President and CEO Joe Hearn.
The CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities.