NEW YORK — The Treasury Department's Community Development Financial Institutions Fund (CDFI Fund) has awarded Financial and Technical Assistance awards to 21 credit unions, worth more than $28 million.
Last year CDFI Fund awards to credit unions totaled $25 million.
This year the CDFI Fund awarded a total of $160 million to 152 organizations.
The National Federation of Community Development Credit Unions noted 63% of the total Financial and Technical Assistance grants awarded to credit unions went to members of the Federation.
The Federation said it was instrumental in establishing the CDFI Fund, is a CDFI intermediary and is a permanent member of the national CDFI coalition.
Pablo DeFilippi, the Federation's VP of member services, said the group is "pleased" that the funding to credit unions increased from last year.
"The Federation advocates with the CDFI Fund on behalf of all credit unions," he said in a prepared statement. "Credit unions are efficient and effective in their leveraging of CDFI capital. We look forward to continuing to work with the CDFI Fund on connecting unbanked and underbanked Americans to the safe and affordable financial services offered by credit unions."
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