DES MOINES—The Iowa Credit Union Foundation (ICUF) has announced three-year, $150,000 investment in a grant initiative it said will address barriers to financial well-being for minority populations in Iowa.
According to the Foundation, the new “Financial Inclusion Grant Program” follows the recent ICUF statewide report “Economic Realities of Communities of Color”, published earlier this year, that identified challenges faced by Iowa’s most vulnerable communities.
The ICUF said it will work with Iowa credit unions to offer grant opportunities for nonprofit organizations that work to close racial wealth gaps, expand financial inclusion opportunities, and improve the financial well-being of the individuals and communities credit unions serve across the state of Iowa.
What’s Being Targeted
“The grants will target common barriers to financial inclusion, like access to affordable housing, business ownership, childcare, education, employment, healthcare and more,” according to CUNA.
The foundation said more information will be available soon, with the first grant cycle beginning in early 2024,
“After releasing the Economic Realities of Communities of Color report earlier this year, we knew we had more work to do to address barriers to financial inclusion in Iowa,” said Ena Babic Barnes, executive director of ICUF. “Our team and the Foundation board are proud to announce this new grant initiative that will help address challenges identified in the report and help more Iowan families access economic opportunities.”
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