Kitsap Credit Union Expands Its Reach for Those in Need of Financial Assistance with CDFI Designation Grant

Kitsap Credit Union is proud to announce it has been awarded a Community Development Financial Institution grant of $660,000. In January 2022, Kitsap Credit Union shared that it had been designated a CDFI. The U.S. Department of the Treasury awards the CDFI designation to institutions that go out of their way to be inclusive of all citizens, including those with economic difficulties. 

Gaining the CDFI status last year allowed Kitsap Credit Union the opportunity to apply for federal funding to further provide financial services to those community members in economic need. 

“Now that we have been awarded this grant, our credit union will begin to develop plans to allocate the CDFI grants,” said Kitsap Credit Union CEO Shawn Gilfedder. “We are looking to expand our services and products for the underserved populations in our communities, including women’s entrepreneurship and the indigenous population.” 

Through these efforts, the credit union’s goals are to help financially educate and support their community and, in turn, promote a healthier local economy.

“For 89 years, Kitsap Credit Union has worked to improve the lives of our members and our community, and we will keep that tradition alive for years to come,” said Gilfedder. 

CU Strategic Planning consulted on Kitsap Credit Union’s CDFI certification and grant application.