CONTACT: Jamie Chase
Phone: 253-200-0418
Email: jamie@creditunionstrategicplanning.com
WASHINGTON, DC – On Monday, July 18, CU Strategic Planning, the firm that specializes in credit union grant writing, established an unprecedented record of winning $5.3 million in CDFIgrant awards for seven credit unions in six states. The credit unions that hired CU Strategic Planningto develop programs and write their grants through the U.S. Department of Treasury Department's Community Development Financial Institutions (CDFI) Fund had no idea they would be part of setting aground-breaking record.
Of the more than $448 million in application requests by CDFIs, only 31.7 percent or $142.3 was approved. For credit unions that percent was higher, 47.2 percent of fund requested were approved andthat was in part because of CU Strategic Planning. The firm more than doubled the CDFI success rate with 76.7 percent of the funds it requested for credit unions approved.
The funding is a part of a nationwide round of awards totaling $142.3 million for 155 Community Development Financial Institutions (CDFIs) serving struggling communities in states across the country. More than twenty credit unions were awarded funds today.
CU Strategic Planning’s track record includes the funding of 76 percent of the dollars it requested totaling $5.3 million for the following credit unions: Industrial Credit Union of Whatcom County in Bellingham, WA, Hawaii First CU in Kamuela, HI, Holy Rosary Credit Union, Kansas City, MO, Community Credit Union of Southern Humboldt County in Garberville, CA, Coshocton Federal Credit Union of Coshocton, OH, Pelican State Credit Union in Baton Rouge, LA and Shreveport Federal Credit Union in Shreveport LA.
“The credit unions that won these awards are living best practices of people helping people to help themselves. They are building the foundation of our nation’s economic recovery,” said Chuck Cockburn, President and CEO forCU Strategic Planning. “CU Strategic Planning won $5.3 million for seven CUs in six states today. To our knowledge no other team has ever won so much grant money for credit unions in a single CDFI funding round.”
Jamie Chase, the founder of CU Strategic Planning, a former staffer at the Washington Credit Union League and the brainchild behind the National Credit Union Foundation’sBizKid$ program, recruited Cockburn to be the CEO of CU Strategic Planning last year prior to the writing of the unprecedented number of grant applications.
“CU Strategic Planning had a history of winning CDFI Awards in every funding round, but never before have we won multiple millions of dollars for so many credit unions,” said Chase. “To our knowledge no team of credit union grant writers have ever come close to this record in a single funding round and I credit the leadership of Chuck Cockburn.”
Cockburn is known as a turn-around CEO, recruited by the boards of Husdon Valley and Digital Credit Unions, and some credit him for the evolution of the 5300 reporting system during his leadership at the NCUA. Today, long after his departure, these credit unions are multi-billion dollar, thriving organizations. His 12 years at NCUA as director of statistics resulted in a mastery of understanding and evolving the credit union balance sheet. “This is why we hired Chuck to lead the CU Strategic Planning and the program development that helps credit unions and their communities,” said Chase.
The CDFI Fund invests in for-profit and nonprofit community-based lending organizations known as Community Development Financial Institutions. Awards are granted through an annual competitive application process.
The Department of Treasury established the Community Development Financial Institutions Fund in 1994 to provide credit, capital and financial services to underserved populations. With the announcements of these awards the CDFI Fund has awarded just over $1 billion through the CDFI Program.
About Credit Union Strategic Planning-Credit Union Strategic Planning is the only strategic planning facilitator in the United States with the mission to help credit unions realize their potential through the International Credit Union Operating Principles.
www.creditunionstrategicplanning.com
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