WASHINGTON—CUNA has sent letters in support of two credit union organizations’ applications for funding under the Environmental Protection Agency’s Greenhouse Gas Reduction Fund: Ecority and Inclusiv.
As CUToday has reported, the Greenhouse Gas Reduction Fund (GGRF) is a $27 billion competitive grant program that seeks to support the capacity of community development financial institutions (CDFIs), minority depository institutions, credit unions, and others to finance cost-saving and pollution-reducing clean technology projects.
Ecority is a nonprofit that was created to help organizations leverage and scale the EPA-administered GGRF through a national network of credit unions and CDFIs.
Two applications were filed, one seeking $10 billion for the National Clean Investment Fund, the other seeking $4 billion from the Clean Community Investment Accelerator, CUNA said.
“The unique strength and effectiveness of Ecority’s grant proposal is its leverage of the nation’s network of credit unions, including community development financial institutions,” wrote CUNA President/CEO Jim Nussle in his letter of support. “Credit unions are the most effective and efficient partner of the Environmental Protection Agency (EPA) in accomplishing the purposes of the GGRF, in part because of the unique relationship between credit unions and their membership.
‘Harnessing Strengths’
“By harnessing the institutional strengths and financial framework of these credit unions and engaging their national network, Ecority has established a strategic plan that will rapidly deliver qualified clean energy projects to low-income and disadvantaged communities and assist credit unions in enhancing capacity and building financial infrastructure to continue to serve these communities for these purposes on an ongoing basis,” Nussle added.
As CUToday.info has also reported, Inclusiv has been very active in seeking to help credit unions tap funds available from the program.
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