ARLINGTON, Va.—A new partnership between NAFCU and the nonprofit organization Ecority is seeking to make credit unions aware of an opportunity to participate in the Greenhouse Gas Reduction Fund (GGRF).
The $27 billion GGRF is being administered by the Environmental Protection Agency (EPA).
“Credit unions have earned their place at this table,” Vice President of Regulatory Affairs Ann Petros wrote in a blog post. “Our sector represents the most accountable way to put this unprecedented investment in green lending to work in our local communities. Together we will help your members – especially lower-income, energy-burdened households – save money on affordable clean energy projects that help your communities, create good jobs, grow the economy, and contribute to a healthier environment for all Americans and at lowest possible costs.”
Grants Up to $10 Million
NAFCU said Ecority is working to secure funding to help credit unions and Community Development Financial Institutions (CDFIs) access green lending grants – as high as $10 million.
Credit unions are being encouraged to indicate their interest in participating in the program by completing a brief form on Ecority’s website and sharing a letter of interest that will be sent to the EPA to “strengthen Ecority’s application for funds,” according to NAFCU.
Additional Details
In her post, Petros also provided additional details on Ecority, the GGRF programs, and how credit unions can receive funding and technical assistance for offering members loan guaranty-backed affordable financing for:
- Electric vehicles and EV infrastructure
- Home or business energy improvements
- Net-zero building construction (family, manufactured and multi-family homes, and commercial buildings)
- Solar panels
- Other technologies deemed to reduce greenhouse gases and other pollutants.
Forms to indicate interest are due to Ecority by Sept. 15.
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