10 CUs Awarded $450K In Tech Assistance Grants
The Treasury Department said it awarded 10 credit unions a total of $450,000 in technical assistance grants under its Community Development Financial Institutions Program. Credit unions have been among the biggest participants in the 10-year-old CDFI program, with more than $30-million in CDFI loans and grants accruing to credit unions.
North Hawaii Community FCU is using its $42,884 to teach financial literacy to former prisoners, functional illiterates and the mentally challenged. Neighborhood Trust FCU in New York is using its $37,200 to help set up a small business and micro-enterprise loan program. The Triumph Baptist FCU, in Philadelphia, will use its $32,700 grant to help finance an audio-teller call center and an ATM card program.
Other recipients are: New Life CU ($75,000); Bethex FCU ($46,254); Central Appalachian Peoples FCU ($75,000); Choices FCU ($49,500); Opportunities CU ($62,055); St. James AME FCU ($49,260) and St. Philip's Church FCU ($44,000).
The CDFI Fund awarded a total of $12 million in technical assistance grants to 94 community development financial institutions under the TA phase of the program. The CDFI Fund also awarded $10 million to 53 banks under the Bank Enterprise Act phase of the program.