Press release
Micron Partners with Clarity Credit Union to Boost Access to Capital for Local Idaho Communities
Company Completes $20M Community Development Financial Institution Target Under the Economic Opportunity Coalition BOISE, Idaho, June 10, 2024 (GLOBE
About this update from Micron Technology, Inc.
[{"type":"text","content":"Company Completes $20M Community Development Financial Institution Target Under the Economic Opportunity Coalition\nBOISE, Idaho, June 10, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory, today announced a $4 million deposit with Clarity Credit Union, a certified Community Development Financial Institution (CDFI), in Idaho. With this deposit, Micron has reached its commitment established with the Economic Opportunity Coalition (EOC) to place $20M with CDFIs. Today’s announced deposit will help Clarity Credit Union offer products, services and financial literacy education to members in the state’s rural areas who may lack access to conventional financial services. To reach its EOC commitment, over the last year Micron deposited $10M with Carver Federal Savings Bank, $3M with Syracuse Cooperative Federal and $3M with Locus (formerly Virginia Community Capital). Micron’s engagement with diverse financial institutions serves as an example of how the company supports its communities. With the expansion of leading-edge memory manufacturing in the U.S., Micron is actively shaping how its investments and partnerships can accelerate opportunities for all. This includes broadening rural and underrepresented communities’ access to capital and critical financial services. Micron’s efforts align with its leadership as a founding member of the EOC – a public-private partnership committed to unlocking the potential of communities of color, low-income communities, rural areas and other historically underserved communities. Micron is the only semiconductor company among the group of 24 founding members. “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.” Micron will continue to build on its efforts under the EOC, working alongside U.S. Deputy Secretary of the Tre...