OLYMPIA, Wash. – The state Department of Financial Institutions here ruled state chartered credit unions may participate in the Department of Commerce’s $5 million energy grants program.
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The program will use federal funds to provide “credit enhancements” to promote energy efficient lending through credit unions and banks. Under the program, the state Department of Commerce will award grants to state and local agencies that will be deposited in local credit unions and banks. The local entity may also award grants to the lender.
The DFI clarified that even though the program is aimed towards participants in its public deposits program, credit unions that are not public depositories may participate in the grants program.
