METAIRIE, La.– New Orleans Firemen’s FCU said it will be deploying $7 million into its communities after receiving the funds from the Treasury Department’s Emergency Capital Investment Program.
The $259.6-million NOFFCU noted the investments are designed to support the efforts of community financial institutions to, among other things, provide loans, grants, and forbearance for small and minority-owned businesses and consumers, especially in low-income and financially underserved communities that struggled the most during the COVID-19 crisis.
The investments made by Treasury are expected to be used for a range of purposes, said NOFFCU, which did not indicate how it specifically plans to deploy the funds. The credit union is a CDFI.
At the time the ECIP awards were announced, Treasury Secretary Janet Yellen said, “These essential funds provide opportunity to underserved communities across the country, helping them to regain their footing following the pandemic and strengthening their resilience against future shocks.”
New Orleans Firemen’s FCU has more than 28,000 members across Louisiana and Mississippi and is the second oldest federally insured credit union.
The Very Best in CU Reporting. Every Morning. To Your Inbox. At a Total Cost of ‘Free!’
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.