California CUs Get FHLB Economic Development Grants

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SAN FRANCISCO – Two California credit unions, Meriwest CU and Spectrum FCU, were among 19 lenders receiving economic development funding yesterday under the Federal Home Loan Bank of San Francisco’s Economic Assistance for Development, or AHEAD, program.

Meriwest CU received a $20,000 grant to provide a web-based, interactive whiteboard and audio connection to connect students and local scientists throughout the school year for one hour of algebra mentoring in the city of Burlingame.

Spectrum FCU received a $30,000 grant to help residents of San Francisco’s Treasure Island neighborhood improve their financial management skills.

The grants were among $1 million awarded to 40 different projects, some operated by the same institution.


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