AltaOne Federal Credit Union is certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury. It is a designation held by less than 1,300 financial institutions nationwide and less than 150 in California. AltaOne is the first certified CDFI headquartered in Kern County, California.
CDFIs are financial institutions that have a history of creating opportunities and access to financial services while providing capital in low-income, disadvantaged communities. The goal is to create jobs, build homes and improve the lives of those who reside there.
The CDFI certification will allow AltaOne to receive grants from the Community Development Financial Institutions Fund. Grants from the fund will enable AltaOne to further its mission of serving communities in areas that have limited or no availability to financial services.
AltaOne’s CEO, Stephanie Sievers, said, “We are honored to be recognized by the U.S. Department of the Treasury for our dedication in serving our members. We proudly accept this designation, and we will continue to provide needed financial services, educational opportunities, and affordable lending in our communities.”
AltaOne’s CDFI certification is for an Investment Area and Low-Income Target Population in Inyo, Kern, Los Angeles, Mono, Orange, San Bernardino, and Tulare counties in California; Clark County in Nevada; and Mohave County in Arizona.