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CDFI Fund awards $35.5 million to 75 credit unions for FY2019 to support investment in underserved communities

Inclusiv members receive 54 TA & FA awards from the CDFI Fund in 2019

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 284 Community Development Financial Institutions (CDFIs) $188.7 million in Financial Assistance (FA) awards yesterday.

This year, 75 awards, totaling $35.5 million, were awarded to CDFI credit unions, 54 of which were awarded to Inclusiv member Community Development Credit Unions and 45 to first-time awardees.

The awards to credit unions were distributed as follows:

29 for Technical Assistance ($3.5 million total)
45 for Financial Assistance ($30 million)
1 for Healthy Food ($2 million)

The awards, through the fiscal year (FY) 2019 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation. The CDFI and NACA Programs also provide Technical Assistance awards to CDFIs and emerging CDFIs. The FY 2019 Technical Assistance Awards were announced on September 19, 2019.

The awards from these programs will support Community Development Financial Institutions that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services. View more information about all of the FY 2019 CDFI Program and NACA Program awards below.

FY 2019 CDFI Program and NACA Program Award Resources:

Congratulations to all awardees! Click here for the complete list of FY 2019 FA and TA Award Recipients. Inclusiv members that received awards this year are listed below.