Magnolia FCU Community Development Corporation

Formed to promote Community Development by providing loan capital and Development resources in economically distressed communities. Such activities of the Corporation may include, but not be limited to: investing in, lending to, or providing technical assistance to businesses and organizations in economically distressed communities; investing in or providing loans to support commercial and residential properties located in economically distressed communities; investing in, lending to, or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote Community Development in low income or economically distressed communities. The Corporation is an emerging Community Development Financial Institution (CDFI) and intends to become a certified CDFI by the U.S. Department of Treasury.