HONOLULU The Queens FCU was awarded a $659,000 grant from the Treasury Department’s Community Development Financial Institutions Program, one of three Native American credit unions to win CDFI grants yesterday.
The $52-million credit union for Native Hawaiians will use the funding from the Native CDFI program to provide affordable used vehicle loans and consumer loans and to assist Native Hawaiians to move from debt to asset building.
Hawaii First FCU, another credit union serving Native Hawaiians, received a $524,000 CDFI grant it will use to expand its affordable Native Hawaiian housing program.
Also receiving a CDFI grant yesterday was Lakota FCU, the newly chartered credit union for the Sioux tribe in South Dakota, which said it will use the $150,000 award to increase its capacity to serve its target market.
The Treasury's CDFI Fund awarded a total of $12.4 million grants to 35 Native American community development organizations yesterday.
