GERMANTOWN, Md. –Montgomery County Employees Federal Credit Union (MC EFCU) has earned the Community Development Financial Institution (CDFI) designation from the U.S. Treasury Department.
MC EFCU, which primarily serves Montgomery County government employees, along with members from a variety of other local businesses, has been working to earn the CDFI designation over the past few months. CDFI designated financial institutions are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals in underserved communities, the credit union noted.
“The entire team at MC EFCU has been working hard to achieve this designation over the past few months,” said Jim Norris, CEO of MC EFCU. “We could not be happier in receiving this designation. We are looking forward to continuing to serve our communities with the high-quality financial products our members know us for.”
MC EFCU’s first step in obtaining the CDFI designation began with the location selection and opening of the Silver Spring branch.
“The Silver Spring community presents an incredible opportunity for the credit union to expand our community development efforts,” said Jorge Saenz, Chief Development Officer at MC EFCU. “The CDFI designation will help us with those efforts in the Silver Spring area.”