The U.S. Treasury Department's Community Development Financial Institutions Fund has announced it will make almost $13 million available to qualified community development credit unions.
CDCUs that the fund has recognized as community development financial institutions were eligible to apply for the funds, which can be used to build up a CDCU's assets, underwrite a specific outreach or product or improve a CDCU's capabilities.
In this round of funding, a total of $12.7 million was awarded to 20 community development credit unions and to the National Federation of Community Development Credit Unions.
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