NEW YORK–Community development credit unions have won 23 awards from the Department of the Treasury's Community Development Financial Institutions Fund for a total of $33.6 million.
Eighteen awards were given to credit unions last year for a total of $34.9 million.
"The Federation is pleased that a larger number of credit unions received awards this year,” said Pablo DeFilippi, VP-membership and new business development with the Federation. “We know that credit unions are effective in leveraging CDFI capital and in working with their communities to transform the lives of low-income members through the use of credit union products and services," says Pablo DeFilippi, Federation vice president of membership and new business development. "The increase in the number of CDFI certified credit unions this year, resulting from the partnership between the U.S. Treasury and NCUA, bodes well for a future with ever-increasing numbers of credit unions receiving awards to grow membership, deposits and loans. We will continue to work with the Fund to increase the size of the awards credit unions receive."
According to the Federation, its “CU Breakthrough” team of consultants wrote the majority of credit union applications to receive awards this year. The Federation said CU Breakthrough consultants are available to work with credit unions interested in the emerging market reviews and strategic planning that is the foundation of a successful award, as well as grant writing. For more information visit www.cdcu.coop/expertise/consulting-services/
The Federation said the 2016 CDFI credit union awardees of Technical Assistance (TA), Financial Assistance (FA) and Healthy Food Financing Initiative Financial Assistance Awards (HFFI-FA) are:
- Carter Federal Credit Union, Springhill, LA - $1,650,000
- District Government Employees Federal Credit Union, Washington, DC - $1,373,250
- Frankenmuth Credit Union, Frankenmuth, MI - $3,400,000 (combined FA and HFFI awards)
- Freedom First Federal Credit Union, Roanoke, VA - $2,000,000
- Guadalupe Credit Union, Santa Fe, NM - $2,000,000
- Guardians Credit Union, West Palm Beach, FL - $1,483,000
- Hope Enterprise Corporation, Jackson, MS - $900,000
- Horizon Credit Union, Macon, MO - $1,650,000
- Jefferson Financial Credit Union, Metairie, LA - $1,650,000
- Kinecta Federal Credit Union, Manhattan Beach, CA - $2,000,000
- MECU of Baltimore Inc., Baltimore, MD - $2,000,000
- North Side Community Federal Credit Union, Chicago, IL - $124,905
- Nueva Esperanza Community Credit Union, Toledo, OH - $56,607
- Red River Mill Employees Federal Credit Union, Natchitoches, LA - $500,000
- Royal Credit Union, Eau Claire, WI - $2,000,000
- Self-Help Federal Credit Union, Durham, NC - $1,347,000
- Suncoast Credit Union, Tampa, FL - $1,400,000
- Tallahassee Leon Federal Credit Union, Tallahassee, FL - $1,768,250
- The Focus Federal Credit Union, Oklahoma City, OK - $2,000,000
- Trailhead Federal Credit Union, Portland, OR - $1,120,000
- Travis Credit Union, Vacaville, CA - $2,000,000
- US Community Credit Union, Nashville, TN - $2,000,000