COMPTON, Calif.-Mid-Cities Financial Credit Union has been designated a CalCAP (California Capital Access Program) financial institution.
Representatives from the CU recently met with the California State Treasurer's Office to discuss its new designation. The CalCAP program will offer Mid-Cities Financial excess capital for loans to small businesses outside the credit union's normal approval criteria. The CalCAP Program is offered by the State Treasurer's Office California Pollution Control Finance Authority. "Mid-Cities Financial is excited to partner with the CalCAP program to gain additional funds to aid small businesses who may not qualify under our current loan guidelines," said Melia Keller, the CU's president and CEO. "This gives the credit union the opportunity to help a group of struggling small businesses we may not have otherwise been able to assist."
The CU, founded in 1937 by a group of teachers, has more than $24 million in assets and serves 5,400-plus members who live, work or worship in the greater Los Angeles-area cities of Compton, Paramount, Norwalk, Bellflower, Lynwood, North Long Beach and Carson.
