WASHINGTON - Credit unions have been awarded more than $25 million as part of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund's latest awards, which went to 284 Community Development Financial Institutions (CDFIs) $188.7 million in Financial Assistance (FA) awards.
The awards, through the fiscal year 2019 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation, Treasury said.
“I am proud to announce the FY 2019 CDFI Program and NACA Program awards,” said CDFI Fund Director Jodie Harris. “I am especially pleased that almost half of the awarded organizations have chosen to provide services in areas of persistent poverty, which will lead to significant impact for residents in some of the most distressed communities nationwide.”
CDFI Program Financial Assistance Awards
The CDFI Program invests in and builds the capacity of CDFIs to serve low-income people and underserved communities lacking adequate access to affordable financial products and services. For the FY 2019 CDFI Program round, the CDFI Fund awarded $132 million in Base-FA awards to 261 organizations in 45 states, the District of Columbia, and Puerto Rico. The CDFI Fund also awarded $18.2 million in PPC-FA awards to 125 CDFIs specifically to serve Persistent Poverty Counties nationwide.
In addition, the CDFI Fund awarded $22 million in HFFI-FA awards to 14 CDFIs. The Healthy Food Financing Initiative is a supplemental program designed to encourage investments in businesses that provide healthy food options for communities. The CDFI Fund also awarded $3 million in DF-FA awards to 16 CDFIs; DF-FA is a supplemental program designed to help CDFIs finance projects and services to assist individuals with disabilities.
CUs receiving awards, and their amounts, are listed below:
- 1st Financial Federal Credit Union, Wentzville, Mo., $565,000
- Afena Federal Credit Union, Marion, Ind., $650,000
- Border Federal Credit Union, Del Rio, Texas, $714,000
- Carolina Foothills FCU, Spartanburg, S.C., $565,000
- Carter Federal Credit Union, Springhill, La., $649,000
- Central Willamette Credit Union, Albany, Ore., $565,000
- Centric Federal Credit Union, West Monroe, La., $799,000
- Community 1st Credit Union, Ottumwa, Iowa, $525,000
- Community Credit Union of Florida, Rockledge, Fla., $565,000
- CoVantage Credit Union, Antigo, Wis., $774,000
- Dupaco Community Credit Union, Dubuque, Iowa, $525,000
- East End Food Coop FCU, Pittsburgh, $100,000
- Episcopal Community Federal Credit Union, Los Angeles, $37,500
- Express Credit Union, Seattle, $650,000
- First Central Credit Union, Waco, Texas, $714,000
- Firstlight Federal Credit Union, El Paso, Texas, $799,000
- Freedom First Federal Credit Union, Roanoke, Va. $714,000
- Greater New Orleans Federal Credit Union, Metairie, La., $799,000
- Greylock Federal Credit Union, Pittsfield, Mass., $525,000
- GTE Federal Credit Union, Tampa, $525,000
- Hope Federal Credit Union, Jackson, Miss., $2,714,000
- Lake Huron Credit Union, Saginaw, Mich., $525,000
- Latino Community Credit Union, Durham, N.C., $125,000
- Light Commerce Credit Union, Houston, $125,000
- Local Government Federal Credit Union, Raleigh, N.C., $714,000
- Lower East Side Peoples Federal Credit Union, New York, $714,000
- Magnolia Federal Credit Union, Jackson, Miss., $714,000
- Marine Federal Credit Union, Jacksonville, N.C., $125,000
- Members Credit Union, Cos Cob, Conn., $120,000
- Montgomery County Employees Federal Credit Union, Germantown, Md., $565,000
- Neighborhood Trust Federal Credit Union, New York, $665,000
- Neighbors Federal Credit Union, Baton Rouge, La., $714,000
- New Horizon Federal Credit Union, Barberton, Ohio, $565,000
- NuVista Federal Credit Union, Montrose, Colo, $124,380
- Ontario Montclair School Employees Federal Credit Union, Ontario, Calif., $650,000
- Park Manor Christian Church Credit Union, Chicago, $125,000
- Pelican State Credit Union, Baton Rouge, La., $799,000
- Premier Federal Credit Union, Greensboro, N.C., $565,000
- Santa Cruz Community Credit Union, Santa Cruz, Calif., $565,000
- Southern Security Federal Credit Union, Collierville, Tenn., $799,000
- Southern Teacher & Parents FCU, Baton Rouge, La., $125,000
- Southwest Louisiana Credit Union,Lake Charles, La., $714,000
- St. Tammany Federal Credit Union, Slide, Ill., $650,000
- The New Orleans Firemens Federal Credit Union, Metairie, La., $1,029,000
- Tucoemas Federal Credit Union, Visalia, Calif., $674,000
- Workers Credit Union, Fitchburg, Mass., $500,000