CDFI Fund Announces Nearly $34.5M to CDFI Credit Unions


CDFI Fund Announces Nearly $34.5 Million to Credit Unions Serving Low-Income Communities

 
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced grants and loans to 302 organizations totaling $202.2 million today. Forty-eight credit unions were given CDFI awards this year for a total of $34.5 million. Among these are four cooperativas de ahorro y credito in Puerto Rico, for the fist time in the Fund’s history. The Federation congratulates all 2018 CDFI credit union awardees of Technical Assistance (TA), Financial Assistance (FA) and Healthy Food Financing Initiative Financial Assistance Awards (HFFI-FA)!
The National Federation of Community Development Credit Unions (Federation) advocates on behalf of low-income consumers to gain greater access to safe and responsible credit union products and services. As the leading CDFI advocate promoting financial inclusion, the Federation works to increase CDFI Fund investments in the growth and expansion of credit unions in some of this country’s lowest income communities.
2018 CDFI Awards to Credit Unions
Credit Union City State TA FA DF- FA HFFI
1 Advia CU Parchment MI $ 500,000
2 Appalachian Community FCU Gray TN $ 1,125,000
3 Brooklyn Cooperative FCU Brooklyn NY $ 1,250,000
4 Buckeye State CU Akron OH $ 875,000
5 Commodore Perry FCU Oak Harbor OH $ 875,000
6 Cooperativa de Ahorro y Credito Aibonitena Aibonito PR $ 125,000
7 Cooperativa de Ahorro y Credito de Jayuya Incorporada Jayuya PR $ 108,179
8 Cooperativa de Ahorro y Credito Jesus Obrero Caguas PR $ 124,000
9 Cooperativa de Ahorro y Credito Saulo D. Rodriguez Gurabo PR $ 125,000
10 Cutting Edge FCU Milwaukie OR $ 600,000
11 Day Air CU Kettering OH $ 700,000
12 DC CU Washington DC $ 700,000
13 Engage FCU (formerly RRME) Natchitoches LA $ 650,000
14 First Central CU Waco TX $ 115,915
15 First Financial CU Albuquerque NM $ 750,000
16 Fort Financial CU Fort Wayne IN $ 600,000
17 Frankenmuth CU Frankenmuth MI $ 875,000
18 Freedom First FCU Roanoke VA $ 950,000
19 Freedom Northwest CU Kamiah ID $ 700,000
20 GECU El Paso TX $ 500,000
21 Genesee Co-Op FCU Rochester NY $ 600,000
22 Greater Kinston CU Kinston NC $ 500,000
23 Hope CU Jackson MI $ 950,000 $ 1,000,000
24 HopeSouth FCU Abbeville SC $ 500,000
25 Houston Metropolitan FCU Houston TX $ 875,000
26 Innovations FCU Panama City FL $ 500,000
27 JetStream FCU Miami Lakes FL $ 1,250,000
28 Lake Trust CU Brighton MI $ 975,000
29 Light Commerce CU Houston TX $ 124,576
30 LES Peoples FCU New York NY $ 700,000
31 Lower Valley CU Sunnyside WA $ 600,000
32 MECU of Baltimore Baltimore MD $ 875,000
33 Members First CU Quincy IL $ 600,000
34 Mid Minnesota FCU Baxter MN $ 500,000
35 Montgomery County Employees FCU Germantown MD $ 600,000
36 NYU FCU New York NY $ 875,000
37 One Detroit CU Detroit MI $ 600,000
38 Orion FCU Memphis TN $ 1,125,000
39 Ouachita Valley FCU West Monroe LA $ 1,250,000
40 Our Mother of Mercy FCU Houston TX $ 400,000
41 Royal CU Eau Claire WI $ 600,000
42 Santa Cruz Community CU Santa Cruz CA $ 700,000
43 Southwest Louisiana CU Lake Charles LA $ 950,000
44 Suncoast CU Tampa FL $ 950,000
45 The Finest FCU New York NY $ 600,000
46 University of Louisiana FCU Lafayette LA $ 950,000
47 Vantage West CU Tucson AZ $ 950,000
48 Veridian CU Waterloo IA $ 950,000 $ 225,000
Click here to see the full list of 2018 CDFI Program Awardees.
Want to learn more? Get an insider’s look at all things CDFI at the Federation’s Annual Conference! 

The Federation is your resource for all things CDFI! Our Annual Conference has several sessions devoted to keeping CDFIs up-to-date on what’s new for the CDFI community in 2018-2019, including:

  • CDFI Fund News and Updates with Annie Donovan, CDFI Fund Director
  • Breaking the Cycle of Disinvestment: New Market Tax Credits, with Bob Ibanez and Jeff Wells
  • Measuring the Difference: Performance and Impact of CDFI and Community Development Credit Unions, with Mike Schenk, Deputy Chief Advocacy Officer and Chief Economist, CUNA
  • CDFI Fund Programs and CDFI Credit Union Performance, with CDFI and NACA Program Manager, Amber Kuchar-Bell
  • Also on our program, Ask the Chairman, a special session with Mark McWatters, NCUA Chairman
2018 Annual Conference
October 23-24, 2018
Clearwater, FL

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