Greater Cleveland Community Credit Union Inc.

Introduction

The Greater Cleveland Community Credit Union Inc. is a full-service financial institution based in Greater Cleveland. Established in 1937, it initially served as the Civil Service Employees Association Credit Union Inc., focusing on City of Cleveland employees and their families. Over the years, it expanded its membership and services, becoming the Greater Cleveland Community Credit Union Inc. in 2016[1][2]. Today, membership is open to anyone who lives, works, worships, or attends school in Cuyahoga County[3].

Mission and Designations

Mission: The Credit Union is mission-driven, focusing on providing accessible financial services to underserved communities. It offers lower interest rates compared to traditional banks and programs to help individuals build credit[3].

Designations: It is both a Community Development Financial Institution (CDFI) and a Minority Depository Institution (MDI), highlighting its commitment to serving minority and low-to-moderate-income communities[1][3].

Services

The Credit Union provides a wide range of financial services, including checking and savings accounts, personal loans, business loans, and auto loans. Its aim is to offer affordable rates and terms while supporting community development[1][3].

Financial Overview

As of recent financial filings, the Credit Union has total assets valued at approximately $9 million[4]. It generates revenue primarily from program services, contributions, and investment income[4].

Impact and Community Role

The Credit Union plays a vital role in the Cleveland community by offering financial inclusivity and support to those who might otherwise lack access to financial services. Its membership consists largely of minority individuals, reflecting its commitment to serving diverse communities[3].

Technology and Innovation

In recent years, the Credit Union has undergone technology upgrades to enhance its services. This includes implementing modern digital solutions to improve operational efficiency and member experience[2].

Conclusion

The Greater Cleveland Community Credit Union Inc. is a significant community-based financial institution dedicated to enhancing economic prosperity in underserved areas of Cleveland through accessible banking services.

[1] https://www.greaterclevcu.com/about-3 [2] https://visifi.com/resources/case-studies/greater-cleveland/ [3] https://thelandcle.org/stories/hidden-gem-greater-cleveland-community-credit-union-helps-people-access-banking-services-from-basement-of-city-hall/ [4] https://projects.propublica.org/nonprofits/organizations/340709014 [5] https://www.greaterclevcu.com