Native American CDCUs Awarded $600k Grants

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WASHINGTON-Two community development credit unions were awarded $600,000 in grants under the Native Americans round of the Treasury's Community Development Financial Institutions program.

Hawaii First FCU, in Kamuela, was awarded $457,623 to use for operating funds and to maintain its community resource center on the island of Hawaii.

And the fledgling Lakota FCU, in Kyle, S.D., received $149,798 to finance the application process for a new credit union for the Pine Ridge Reservation. The Pine Ridge Reservation is located in the Western third of South Dakota and encompasses 70,000 square miles, 40,000 residents (estimated), but not one depository financial institution.

The CDFI program awarded $10.2 million to 45 Native American organizations under the latest round of funding.

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