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CDFI awards include three credit unions
WASHINGTON (4/15/09)--Three credit unions have been awarded technical assistance grants from the Community Development Financial Institutions (CDFI) Fund. Express CU, Seattle, Wash., received $99,963; and Union CU, Spokane, Wash., and Kunia FCU, Waipahu, Hawaii, each received $100,000. Twenty-seven organizations received money from the program. A total of $2.3 million will be distributed. The CDFI Fund announced the 2009 Technical Assistance awards in advance of the 2009 Financial Assistance awards, and five months earlier than the award announcement in 2008. “We recognize the economic challenges facing CDFIs, and the growing demand from low-income Americans for the financial services and products they provide,” said Donna J. Gambrell, CDFI director. “In order to expedite the flow of critically needed resources into low-income communities, the CDFI Fund has implemented new operating procedures that have enabled us to expeditiously administer this vital program.” The CDFI Fund intends to make two additional award announcements related to the 2009 round of the CDFI Program--Financial Assistance Component. The first announcement will be made in June, when all $90 million of funding received through the American Recovery and Reinvestment Act of 2009 will be awarded. The second announcement will be made by September, when over $50 million of 2009 annual appropriations will be awarded. Through the Technical Assistance Component of the CDFI Program, the CDFI Fund provides grants to start-up and existing CDFIs, helping them build their organizational capacity to serve their target markets. For a full list of award winners, use the link.
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