NEW YORK – Lower East Side People’s FCU was awarded $60,000 in funding from the Trinity Grants Program, which the community development credit union will use to provide loss reserves for small business loans in the Lower East Side and Central Harlem in order to create new jobs and retain existing jobs.
The $24 million credit union will use the funding to create 20 new jobs and retain 25 existing jobs.
The Trinity Grants Program awarded more than $500,000 in funding for the first quarter, focusing on peace programs in Burundi and Sudan, and workforce development in New York City.
Trinity Grants has awarded more than $1 million toward job creation and retention in metropolitan New York since 2008, with a particular investment in New York's "seven communities," those local neighborhoods from which the largest percentage of the state's prison population is derived.
