Three Established CUs and One CU Organizing Effort Receive CDFI Money
The U.S. Treasury's Community Development Financial Institution's Fund's round of technical assistance grants has awarded money to three established Native American credit unions and one effort to organize a CU to serve a Native American Population.
The three established CUs are in Hawaii. The Aloha Federal Credit Union (3,800 members, $30,000 in assets) headquartered in Pearl City, received $150,000 to better serve its target population of low income and Native Hawaiian populations. The Ka’u Federal Credit Union (3,200 members, $12 million in assets) headquartered in Naalehu, received $279,000 to help start a micro-lending program. The Queens Federal Credit Union (5,100 members, $45 million in assets) headquartered in Honolulu, received $24,950 to use to better serve its target audience of Native Hawaiian health care workers.
The credit union organizing effort was on the Pine Ridge Indian Reservation near Kyle, South Dakota. The Lakota Federal Credit Union Steering Committee received $149,560 to help establish a credit union on the reservation which has 40,000 resident but no banks or credit unions.