Palmetto Citizens Earns Coveted Community Development Certification

COLUMBIA, SC: Palmetto Citizens Federal Credit Union is proud to announce it has been certified as a Community Development Financial Institution (CDFI) by the U.S. Department of Treasury.

CDFIs are mission driven organizations focused on serving low-income and underserved communities. Palmetto Citizens joins less than 1,400 financial providers nationwide, and just 20 in South Carolina to achieve this certification.

As a CDFI, Palmetto Citizens will have access to federal grants, tax credits, and bond programs they can use to reinvest in the Midlands. They will be able to direct these dollars to areas most in need of financial assistance to benefit their residents and small businesses, as well as help generate economic growth within these communities.

"We're excited to earn this designation on behalf of the communities we serve and the people who live and work there," said Palmetto Citizens President and CEO, Robert Dozier, Jr. "The loan, grant and investment opportunities available to us as a CDFI will allow us to increase the impactful mission-driven work we're already doing of bringing low-cost financial solutions to areas in the Midlands most in need."

Created by Congress to combine federal money with private capital, CDFI helps qualified financial institutions meet the needs of underserved communities. Since its inception in 1994, the CDFI Fund has provided more than $5.1 billion through a variety of monetary award programs, $66 billion in tax credits, and has guaranteed more than $1.8 billion in bonds in economically distressed and underserved communities.

Dozier added, "As we look for ways to continue to make a positive impact throughout the Midlands, being among the financial institutions with the CDFI designation will go a long way in helping us truly make a difference in peoples' lives, which is what Palmetto Citizens is all about."

About Palmetto Citizens Federal Credit Union

Palmetto Citizens Federal Credit Union has been serving their member-owners since 1936. Today, with over $1.3 Billion in assets and 310 employees throughout the Midlands, Palmetto Citizens serves over 100,000 consumers and operates from 14 locations with over 40 ATMs. Offering a full range of financial products and services, their focus remains on providing quality and effective service while helping members achieve their financial potential.

For more information, visit www.palmettocitizens.org or call (803) 732-5000.