We believe in lending a helping hand to all our neighbors.
In 2019, Afena Federal Credit Union was named a Community Development Financial Institution (CDFI). So what does that mean to you? It means we're trying to level the financial playing field in the counties we serve. And it means we can provide life-changing financial resources for low-income residents and under-served communities.
- CDFI financial institutions open up lending opportunities to those who wouldn’t be able to get funding through a different financial institution.
- Afena's status allows us to apply for special funding and grants that improve our ability to serve low-to-moderate-income individuals and families.
- This funding ensures that everyone in the communities that we serve has access to fair and affordable financial products and services.
- In 2023, we approved 92% of loans, consolidated over $3 million of member debt, and worked hard to improve financial equity in our communities.
- Specifically, 26% of the loans we approved in 2023 went to members with low income and 19% went to members with moderate income.
A CDFI is a mission-driven financial institution dedicated to providing financial services to meet the needs of economically disadvantaged individuals. Certified CDFI’s are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.
Our goal is to help put low-income, under-resourced, and unbanked individuals and families on the path to financial freedom by providing low-cost financing, high-return savings, and financial education.
Becoming a CDFI has allowed Afena to focus on increasing financial equality by saying 'yes' and making loans to individuals who may otherwise find themselves unable to qualify for traditional borrowing options due to income level, credit score, or other inhibiting factors. To learn more about our work as a CDFI, contact us today. Together, we can build a financially healthier community!
Afena Federal Credit Union is a full-service financial institution headquartered in Marion, IN that serves Grant, Wabash, Blackford, Jay, and Wells counties.
It's time to get in control of your debt!
Take charge of your finances with a debt consolidation loan from Afena.