NEW YORK — Some community development credit unions came away very disappointed by the latest round of key government grants, according to the National Federation of Community Development Credit Unions.
Federation CEO Clifford Rosenthal explained that the organization is hearing an unprecedented level of complaint and concern from its members about the most recent round of grants from the U.S. Treasury Department's Community Development Financial Institutions Fund.
These grants have played a strong role in the development of many CDCUs since they include both financial grants that CDCUs can use to strengthen their equity positions and technical assistance grants that they can use to both start new programs and develop expertise.
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