BROOKLYN, N.Y. - Federal officials presented a check for $394,000 to Brooklyn Cooperative FCU officials to help mark the community development credit union’s newest branch, in the low-income Bedford-Stuyvesant neighborhood.
The new branch was facilitated by federal funding, provided by the Treasury Department’s Community Development Financial Institutions Fund.
The $7-million credit union has received awards from the CDFI Fund since 2001, totaling more than $1.1 million. The federal funds have enabled the CDCU to establish a firm financial base and expand its branch network.
The new branch will be open five days a week, and will offer core financial services: low-fee loans, savings accounts, checking accounts and ATM card, tax preparation assistance, homeownership counseling, housing loans, and small-business technical assistance and loans.
