Editor's Note: An earlier version of this article had the incorrect deadline. It appears correctly here.
WASHINGTON—Credit unions designated as Community Development Financial Institutions (CDFIs) have until Sept. 22 to apply for grants under the CDFI Fund’s new Equitable Recovery Program, which will provide approximately $1.73 billion in grants for CDFIs as they respond to the economic impact of the coronavirus pandemic.
The funds, allocated for the CDFI Fund via the Consolidated Appropriations Act of 2021, are available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that are in need of better access to financial services and were disproportionately affected by the pandemic, NCUA is reminding credit unions.
Award funds may be expended for two types of eligible activities: financial products and services and operational support.
For info, visit the CDFI Fund’s Equitable Recovery Program webpage.
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