BOISE, Idaho-- Micron Technology, one of the world’s largest semiconductor companies, said it has made a $4 million deposit with Clarity Credit Union as part of a goal it established with the Economic Opportunity Coalition (EOC) to place $20 million with community development financial institutions.
The deposit will “help Clarity Credit Union offer products, services and financial literacy education to members in the state’s rural areas who may lack access to conventional financial services,” the company said in a statement.
The $210-million Clarity Credit Union in Meridian, Idaho has more than 18,000 members.
Micron Technology said that over the last year it also deposited $10 million with Carver Federal Savings Bank, $3 million with Syracuse Cooperative Federal, and $3 million with Locus (formerly Virginia Community Capital).
‘Supporting Communities’
The company said its “engagement with diverse financial institutions” is an example of how it supported communities.
Micron further said the efforts align with its role as a founding member of the EOC – a public-private partnership “committed to unlocking the potential of communities of color, low-income communities, rural areas and other historically underserved communities.”
‘Help Us to Expand’
“Clarity Credit Union is grateful to Micron for their $4 million CDFI deposit. This investment will help us expand to be able to offer our products, services and financial education to rural Idahoans,” Clarity Credit Union CEO Wendy Edwards said in a statement.
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