Federal funding has been awarded to Santa Cruz Community Credit Union. According to the president of the Credit Union Board, the just over 2.8 million dollars will allow local entrepreneurs, small businesses and those wishing to purchase affordable housing, to receive the funding from the U.S. Treasury. The federal funds are expected to push the credit union’s capital ratio close to 12%. Santa Cruz Community Credit Union is said to be the only institution in Santa Cruz County that qualifies for the federal funding due to it’s designation of serving low-income communities.
