The Southeastern Credit Union Foundation seeks to empower its credit unions, their employees, members and industry partners by providing resources needed to affect change in the communities they serve. Through our partnership with the National Federation of Community Development Credit Unions, SECUF is dedicated to providing resources to its credit unions and industry partners with the specific mission of serving low-income, underserved and minority communities beyond the reach of banks.

Benefits of being a designated low-income credit union include:

• Accept non-member deposits
• Participate in community development revolving loan programs
• Offer secondary capital accounts
• Qualify for exception from the aggregate loan limit for member business loans.

Benefits of community development efforts include:

• Fairly priced loans, including to members with imperfect, limited or no credit history
• A safe place to save
• A place to conduct transactions at reasonable cost
• Financial education and counseling for its members
• Products, services and support that can help members to free themselves from high-cost and predatory debt, gain control over their personal finances, and achieve economic independence.

Credit Unions interested in Low-Income Designation or Community Development Certification typically offer an economic lifeline to low-income communities that have been abandoned by commercial banks and targeted by high-priced check casher's and predatory lenders. Low-Income Designation Community Development also allows CUs to provide a platform to serve the broader community through outreach to disadvantaged populations and neighborhoods, participation in government programs, and partnerships with the private-sector in community revitalization efforts.

Every Community Development credit union is founded in the belief that those who work hard deserve the opportunity to achieve financial security. Each Community Development credit union can tell a story of beating the odds, helping the vulnerable, and pursuing a mission that is as large as the American Dream and as specific as the future of a single child.

Resources for Low-Income Designation

Resources for Community Development Certification

Learn how your credit union can make an impact in your community by joining/implementing the Bank On Initiative. Councilman Karl Nurse of St. Pete, discusses the advantages of credit unions participating and how they can expand their outreach efforts in their local communities.