The U.S. Department of the Treasury Community Development Financial Institutions Fund has recently launched a new financial education and counseling pilot program.
The latest offering makes an additional $2 million in grant funding available. With an eye on funding prospective homebuyers’ financial education and counseling services, the grants will cover everything from increasing the financial knowledge and decision-making capabilities of prospective homebuyers to helping prospective homebuyers develop monthly budgets, build personal savings, improve credit scores and finance or plan for major purchases. The grant application deadline is Nov. 19.
“This is another avenue for credit unions to explore as they seek new resources to benefit their members,” said NCUA Chairman Debbie Matz, who serves as NCUA’s liaison to the President’s Advisory Council on Financial Literacy. “Financial education is a natural service for credit unions. I strongly encourage credit unions to use all resources at their disposal to help members expand their financial knowledge.”
More information about the pilot program can be found on the CDFI Fund Website http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=8.