Citibank is giving a $1.25 million boost to community development efforts by credit unions.

Over the next three years, the New York-based bank will help the National Federation of Community Development Credit Unions create and expand institutions to serve low-income communities.

Community development credit unions in San Antonio, New York, Washington, Chicago, and several other areas will share $1 million in equity grants.

The remaining $250,000 will fund technical assistance programs and provide start-up capital to new credit unions.

Citibank has supported community development credit unions for years and is "delighted to have this opportunity to help them move into a dramatic expansionary mode," said Janet Thompson, its vice president of global community relations.

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