Kellogg Foundation Grant Made To Help Start CU

The W.K. Kellogg Foundation has made a $92,000 grant to help underwrite the launch of a community development credit union here. The "Yes We Can!" grant is being used by a steering committee that has been formed to help guide Battle Creek Community Development CU as it seeks to open its doors and serve low-income consumers ad those with poor or no credit. According to the United Way of Greater Battle Creek, 34% of Battle Creek residents have an annual income of less than $24,999, in an area where the self-sufficiency wage is $32,000 for a family of four. A representative from the National Federation for Community Development Credit Unions is set to visit the committee this month.