Clarity Credit Union Accepts $4 Million CDFI Deposit from Micron

Posted by Alyse Knudsen on June 25, 2024

(L to R) Clarity Credit Union CEO Wendy Edwards, Senator Crapo, Micron CEO Sanjay Mehrotra, Micron CFO Mark Murphy, Deputy Secretary of the Treasury Wally Adeyemo, VP of US Expansion at Micron Scott Gatzemeier

On June 10, Micron Technology, Inc. announced it had made a $4 million deposit with Clarity Credit Union to boost access to capital for local Idaho communities. 

As a result of this deposit from Micron, Clarity, a CDFI-designated credit union, will be able to expand its footprint into rural Idaho and provide products, services, and financial education to those who may not have access to these resources. 

“Micron is working to ensure that our investments in memory manufacturing have a positive impact beyond the semiconductor industry and in the communities where we operate,” said Micron Executive Vice President and Chief Financial Officer Mark Murphy. “By engaging with diverse financial institutions, like Clarity Credit Union, we’re fostering economic opportunities for individuals from all backgrounds, including those who are underserved, so that they can join in the growth the Boise region will experience in the coming years.” 

“Clarity Credit Union is grateful to Micron for their $4 million CDFI deposit. This investment will help us expand to be able to offer our products, services, and financial education to rural Idahoans,” said Clarity Credit Union CEO Wendy Edwards. 

To make this announcement public, Micron hosted a press event which included a visit from Deputy Secretary of the Treasury Wally Adeyemo and U.S. Senator Mike Crapo. The event included a tour of the new Micron site, a fab tour, media interviews and a round table session. 

Clarity currently has branches in Nampa, Caldwell, Middleton, Emmett, and Meridian. A new branch in Homedale, Idaho, is in the design phase of construction and is scheduled to open in 2025. Along with that new branch, Clarity will launch a mobile branch that will allow it to take its specialized banking services directly to small rural communities across Southwest Idaho that do not have access to a financial institution. 

Families that live in rural areas often lack access to health and human services and financial services. Clarity helps provide families access to services, including specialty lending programs, financial education, and financial counseling to help them make informed financial decisions. Clarity takes pride in knowing it is setting members up for long-term financial success. It also prioritizes community involvement to create partnerships that will enhance growth and the sense of community. 

Clarity has products and services for members in every financial stage – from youth to young adults just starting out in the real world, to those who are rebuilding their financial health, to individuals who are planning for retirement. Clarity helps move members from financial fog to financial clarity. At Clarity, core values are exemplified in everything the credit union does which includes being empathetic to member income levels and supporting members with low or no credit. Clarity embraces the credit union philosophy of “People Helping People.” 

Posted in Idaho, Regional Member News.