CDFI Spreads $17 Million to Nine CUs

Nine credit unions from six states shared $17.15 million that the U.S. Treasury Department has awarded to credit unions out of the most recent round of funds. Eight of the nine institutions receiving awards of $2 million apiece.

The Treasury Department reported that overall, $90 million of the fund’s $100 million supplemental economic stimulus appropriation this year went to CDFIs, with just over $17 million going to the nine. These include Alternatives Federal Credit Union and Brooklyn Cooperative Federal Credit Union in New York; Mendo Lake Credit Union and Santa Cruz Community Credit Union in California; ASI Federal Credit Union in Louisiana; Communicating Arts Credit Union in Michigan; First Legacy Community Credit Union and Latino Community Credit Union in North Carolina; and Opportunities Credit Union in Vermont.