WASHINGTON –More credit union members and prospective members could have greater access to online banking solutions—especially in underserved communities--following the approval by Treasury of more than $228 million for high-speed internet projects in New York under the American Rescue Plan’s Capital Projects Fund (CPF).
The state is estimating the funding will help connect tens of thousands of homes and businesses to affordable, high-speed internet, Treasury said.
In a statement, Treasury said key priority of the CPF program is making funding available for broadband infrastructure to expand economic opportunities and provide high-speed internet connectivity in underserved communities, including rural, Tribal, and other underserved communities.
Life is ‘Upended’
“The pandemic upended life as we knew it and exposed the stark inequity in access to affordable and reliable high-speed internet in communities across the country,” said Deputy Secretary of the Treasury Wally Adeyemo. “This funding is a key piece of the Biden-Harris Administration’s historic investments to increase access to high-speed internet for millions of Americans and provide more opportunities to fully participate and compete in the 21st century economy.”
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