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Cos Cob-based Members Credit Union will use a grant from the Treasury Department’s Community Development Financial Institutions (CDFI) Fund to install an ATM in an area of Stamford convenient for the credit union’s immigrant members.

U.S. Rep Jim Himes (D-Greenwich) said in a statement yesterday that Members Credit Union would receive a $125,000 grant from the CDFI Fund, which provides funds to CDFIs that support economically disadvantaged communities.

“Ensuring Connecticut residents have access to their financial institutions will make it easier for constituents to access resources and the financial tools needed during this time.” said Himes. “The pandemic has disproportionately hurt Hispanic Americans across the country, so it is especially important that Members Credit Union will use this grant for essential outreach. I look forward to working with Members Credit Union and other community organizations to combat the economic consequences of COVID-19.”

Members Credit Union had received the Juntos Avanzamos (Together We Advance) designation in 2017 for it’s outreach to the Hispanic community.

“Since becoming a Juntos Avanzamos credit union, our outreach in Stamford has exceeded our expectations,” Kathy Chartier, Members Credit Union president, said in the statement. “We offer financial counseling and no cost/low cost financial savings and loan services to Hispanic immigrants, both documented and undocumented.  We have learned that while we are meeting their counseling and borrowing needs it is difficult for them to use our transaction services.”

Chartier added that many Hispanic immigrants are paid in cash and face challenges getting to Members Credit Union’s only branch in Cos Cob to make deposits.

“We received this grant for the purpose of placing a deposit taking ATM in an area of Stamford that is convenient for our immigrant and low income members, to make cash deposits into their Members Credit Union account and take full advantage of our services,” Chartier said. “We are grateful for this opportunity to better serve our Stamford members who depend on us to improve the quality of their financial lives.”

Members Credit Union has $34.8 million in total assets and more than 3,000 members.