LOUISVILLE, Ky.–Park Community Credit Union said it has become the first Community Development Credit Union (CDCU) in Kentucky.
As a result, Park Community said it can initiate programs that will bring fair and affordable financial products and services to the areas of Kentucky that need them most by accessing funding through loans and grants from the CDFI Fund and other donors and foundations.
“We’re honored and humbled to be the first CDCU in Kentucky. For Park, this means we can make transformative investments in our local communities that have been left behind,” said Jim Spradlin, CEO of Park Community Credit Union.
In addition, Park Community also recently launched a new charitable organization, Nspire, Inc. a 501(c)3 public charity serving as the sister organization and philanthropic arm of the credit union. Nspire will make investments in communities that struggle with financial stability, the credit union said.
“Nspire was developed to carry out the commitment and passion Park Community Credit Union has in making a significant impact on the problems facing our struggling communities,” said Keisha Deonarine, executive director of Philanthropy & Corporate Relations. “We at Nspire will provide the financial advocacy and empowerment that our communities need to grow, transcend poverty, and generate lasting stability for their families.”
The $975-million Park Community CU has approximately 86,000 members.