Nine get nearly $1.4 million each. Self-Help FCU gets separate $3 million grant for Healthy Food Financing Initiative.
Twenty-four credit unions or credit union organizations received grant assistance from the U.S. Treasury Department’s Community Development Financial Institutions Fund in the latest round of funding.
Community Development Financial Institutions grant $187 million to 210 organizations.
Spokane, Wash.-based CU Strategic Planning won more money for credit unions than any other team of grant writers did, the firm said.
Grant applications from credit unions that are recognized as community development financial institutions to the U.S. Treasury's CDFI Fund may face stiff competition, the fund's data suggested.
Donna Gambrell, director of the U.S. Treasury Department's Community Development Financial Institutions Fund will announce new Technical Assistance and Financial Assistance Awards at a community development credit union.
Community Development Financial Institutions need more money to meet the demands of the low-income communities that were disproportionately hurt during the recent economic downturn.
The Obama administration will make money from the Troubled Asset Relief Program available to credit unions, banks and thrifts that have been recognized as community development financial institutions by the Treasury Department's CDFI fund.