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December 4, 2009

ShoreBank Pacific

Ilwaco-based ShoreBank Pacific is now certified as a Community Development Financial Institution by the U.S. Department of the Treasury's CDFI Fund. The certification is based on a history of community development in low income and underserved communities. To qualify, an institution must direct 60 percent of its activities toward CDFI-eligible target markets. ShoreBank is the only bank chartered in Washington with the certification. Now it can apply for grants to fund loans and development services in underserved Oregon and Washington communities. This will increase the bank's lending to renewable energy, green building, fishing, specialty foods and agriculture industries.




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