PHOTO: Community Credit Union staff at the annual awards garden party, from left, Andrew Lunn, EVP[ Betsy Sibley, VP of marketing; JoAnn Jackson, VP of financial operations; Liz Campbell-Brown, AVP of financial operations; Jennifer Hogan, president/CEO; Marcel Gagne, chair board of directors; Elizabeth Keene, vice chair board of directors. (Submitted photo)
LEWISTON — The U.S. Department of the Treasury recently awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions, including Community Credit Union.
The money is part of the CDFI Rapid Response Program and will provide capital for CDFIs to respond to economic challenges created by the pandemic, particularly in underserved communities. Community Credit Union received $1.8 million that will be used in Androscoggin County to support lending programs to underserved populations, provide financial education in the community and more.
Jen Hogan, president/CEO of Community Credit Union, said, “Our team is committed to our mission to provide financial services to ensure stability for all members, employees and communities at all stages of life. As a small credit union, these CDFI funds allow us to continue that work. We are overwhelmed with joy at the opportunity these grant funds are providing for our members and the entire community.”
Since its creation in 1994, the CDFI Fund has awarded more than $3.9 billion to CDFIs, community development organizations and financial institutions through several programs. This year’s awards include 244 credit unions across the country, receiving $401.8 million in awards.
Community Credit Union is a member-owned full service financial institution that has been serving its members and all of Androscoggin County since 1945. The Credit Union has a low-income designation from NCUA as well as certified as a Community Development Financial Institution. Community Credit Union has branches at 144 Pine St., as well as 40 Stanley St. in Auburn and 1025 Auburn Road in Turner.
