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).

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

  • Critical 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 and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.