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Forty-eight credit unions—including for the first time, four Puerto Rican cooperativas —have received a total of $34.5 million from the Community Development Financial Institutions Fund, the Treasury Department announced has announced.

The department said that 302 organizations received a total of $202 million as part of the 2018 round of grants and loans.

“The FY 2018 CDFI Program and NACA Program awardees will provide vital financial services and lending to low-income communities nationwide,” CDFI Fund Director Annie Donovan said. “The awards will also benefit Native communities, areas of persistent poverty, and individuals with disabilities.”

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David Baumann

Credit Union Times

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