AltaOne gets $200,000 grant to provide services

Funds aimed at affordable housing, business support

AltaOne Federal Credit Union has been selected for a $200,000 grant award from the California Investment & Innovation Program (Cal IIP). This grant will bolster AltaOne’s efforts in providing essential financial services and support to communities across California.

Cal IIP is an initiative led by the California State Treasurer’s Office, that focuses on empowering community development financial institutions (CDFIs) like AltaOne.

This program aims to facilitate equitable economic recovery and development in underserved communities.

AltaOne Federal Credit Union, meeting the stringent criteria set by Cal IIP, including federal CDFI certification and a strong presence in California, is well-positioned to utilize this grant effectively.

The funds are earmarked for enhancing working capital and increasing total net assets, which will enable AltaOne to expand its services.

These services range from affordable housing projects to supporting businesses and facilities that contribute to community revitalization and stability.

“This grant award is an acknowledgment of our commitment to serving the financial needs of Californians, especially in low-income and underserved areas,” said Stephanie Sievers, CEO of AltaOne Federal Credit Union. “With these funds, we are able to further our mission in making a tangible difference in the lives of our members and the broader community.”

AltaOne Federal Credit Union plans to channel the grant towards various initiatives, including expanding affordable housing options and supporting small businesses.

AltaOne Federal Credit Union branches are located in Bishop, Lone Pine, Ridgecrest, Tehachapi. Boron, California City, China Lake, Kernville,

Lake Isabella and Bakersfield.

Membership is open to individuals who live, work, worship, volunteer, or go to school in Kern, Inyo, and Mono counties.

Certified as a Community Development Financial Institution by the US Department of the Treasury, AltaOne serves many areas that have limited or no availability to financial services.

For more information on AltaOne, visit AltaOne. org.