Money from the U.S. Treasury Department's Community DevelopmentFinancial Institutions Fund's latest round of funding will helpcredit unions offer members alternatives to high cost payday andauto loans, improved savings options, financial education and loansto bring fresh food into neighborhoods that currently do not haveany, according to the CDFI fund and credit union executives.

The CDFI fund has announced almost $20 million in grants tocommunity development credit unions and credit union organizations,according to the National Federation of Community Development Credit Unions that tracks the grants.

The federation reported that credit unions received 12% of theCDFI's overall grants during the latest round and that 83% of theCDCUs that received money were National Federation Members (seesidebar).

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