X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK – The first group of recipients was announced by The Community Development Financial Institutions Fund for its new Small and Emerging CDFI Assistance (SECA) Component. Nineteen credit unions were among the 70 CDFIs awarded technical and financial assistance. The CUs received $2,362,000 out of the total of $8,004,150. Of the credit union recipients, 90% are members of the National Federation of CDCUs (NFCDCU). Approximately half of all SECA applicants were funded, according to NFCDCU estimates. Among the recipients was North Side Community FCU in Chicago, Ill. It received $200,000 from the fund. The credit union intended to use the money primarily to expand a program that provides an alternative to payday lending. Another recipient, Syracuse Cooperative FCU in Syracuse, N.Y. received $55,000 in technical assistance support to streamline their service delivery through a network of ATMs and home-banking Internet service. Six credit unions received a total of $1,692,000 in funding from a “Core” round that was announced last year. The total for Core and SECA rounds is over $4 million.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.