MALVERN -- Diamond Lakes Federal Credit Union has received Community Development Financial Institution certification from the U.S. Treasury's CDFI Fund effective immediately.
To receive this certification, Diamond Lakes must have a primary mission of promoting community development. CDFIs also provide development services in conjunction with loan programs.
CDFI certification means that Diamond Lakes is dedicated to serving low- and moderate-income consumers and will promote financial inclusion in the six counties that the credit union serves. The benefits of certification for the credit union include access to financial grants fro m the CDFI Fund.
"As a not-for-profit cooperative, we are dedicated to improving the lives of our members and giving back to the communities we serve. With this certification, Diamond Lakes can expand services for those underserved in our community and create innovative financial programs," explains Diamond Lakes' President/CEO Tammy Passafiume in the press release.
Diamond Lakes Federal Credit Union is headquartered at 7333 Highway 270 in Malvern, with two branches in Hot Springs: 4032 Central Ave. and 115 E, Grand Ave. Diamond Lakes is a full-service credit union with $69 million in total assets and 10,979 members. The credit union serves individuals who live, work, worship, attend school or regularly do business in Hot Spring, Garland, Clark, Grant, Pike and Montgomery counties and Hot Springs Village.Business on 04/04/2016
Print Headline: Diamond Lakes Federal Credit Union gets Community Development Certification