Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Two CUs Among Native CDFI Program Awardees
WASHINGTON (9/20/13)--Lakota FCU of Kyle, S.D., and The Queens FCU, Honolulu, Hawaii, are among the 35 organizations awarded a total of $12.4 million under the Treasury Department's Native American CDFI Assistance Program (NACA Program), according to an announcement Thursday.
 
Lakota is to receive $150,000 and The Queens is to receive $659,000.
 
The funds are intended to help awardees increase lending and financial services in Native American, Alaska native, and native Hawaiian communities throughout the United States.
 
"The Native American CDFI Assistance Program is providing critically needed funds for distressed Native and tribal areas, many of which lack traditional banking services," said Don Graves, Treasury Deputy Assistant Secretary for Small Business, Community Development and Housing Policy. "This latest round of awards will expand the capacity of native financial institutions to develop innovative economic development solutions for the businesses and individuals in their communities."       
 
The awardees, all certified Native Community Development Financial Institutions (Native CDFIs) or organizations looking to become or create Native CDFIs, will receive a collective total of $12,451,015 in Financial Assistance and Technical Assistance awards.
 
Eighteen Native CDFIs will receive Financial Assistance awards, which are primarily used for financing capital. Seventeen organizations will receive Technical Assistance grants, which are usually used to acquire products or services, staff training, professional services, or other support.
 
Use the resource link to read more about the grants and technical assistance.
Other Resources

Native CDFI Awards
RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
17 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
18 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
18 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
18 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
19 hours ago