Inland Empire Homebuyers, Small Businesses To Benefit From New Certification, Rep. Calvert Says

RIVERSIDE COUNTY, CA — Families working toward their first home, small business owners looking to grow, and residents seeking a fair shot at financial stability are set to benefit from new resources being developed by Altura Credit Union, with the support of area U.S. Rep. Ken Calvert, his office detailed in a recent news release.

The credit union has officially been certified as a Community Development Financial Institution (CDFI) by the US Department of the Treasury's CDFI Fund, a designation that recognizes Altura's long-standing commitment to expanding access to financial services in underserved communities throughout Riverside County, according to Rep. Ken Calvert's office in a recent news release.

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"At Altura, we've always believed our responsibility extends beyond banking," said Jennifer Binkley, CEO of Altura Credit Union. "Our role is to strengthen the financial well-being of the communities we call home. Becoming a Community Development Financial Institution gives us new opportunities to expand that impact: helping more families, entrepreneurs, and underserved communities access the resources they need to build a stronger future."

A $150,000 Technical Assistance grant through the CDFI Fund and has applied a portion of it toward improving small business services for Riverside County entrepreneurs.

Calvert helped facilitate the official certification process, according to the news release.

"Every family and business in Riverside County deserves access to fair, affordable financial services," noted Congressman Calvert in an official statement. "That's why my office was proud to work with Altura Credit Union and the Treasury Department to facilitate their certification as a Community Development Financial Institution. Altura has always been deeply rooted in our community, and this designation empowers them to reach even more underserved residents with the tools to acquire a home or auto loan, start a business, and build a stronger financial future. I congratulate Altura on this milestone and look forward to the impact it will make."

For Riverside County, that means Altura can now pursue CDFI Fund awards and other new funding streams to expand its impact where it's needed most, including:

• Affordable housing support, including resources for first-time homebuyers.
• Small business loans and microloans for local entrepreneurs
• Expanded financial education and one-on-one guidance for underserved residents and families.
• Continued investment in initiatives that build long-term economic opportunity across the county.

"Receiving CDFI certification strengthens our ability to turn purpose into action," said Stephanie Redmond, VP of Community Impact at Altura. "Our intention is to remain creative and curious about how we apply for grant dollars for the purpose of improving our Members' financial wellness."

As a member-owned financial cooperative, Altura has always focused both on serving its members and improving the communities it serves, the release stated. "This includes offering accessible and tailored loan products, checking and savings accounts, and personalized financial guidance. The CDFI certification strengthens Altura's ability to expand access to these services among underserved individuals and communities throughout Riverside County."

Credit Union membership is open to anyone who lives, works, worships, or attends school in Riverside County, as well as U.S. military, government, and civilian personnel at March Air Reserve Base and retirees of the U.S. Armed Forces. For more information, visit www.AlturaCU.com or call 1-888-883-7228.