Coasthills Credit Union celebrates $3 million in grants from the Department of Treasury CDFI Fund with Rep. Salud Carbajal

LOMPOC, CA (August 25, 2023)CoastHills Credit Union CEO Paul Cook and Board of  Directors Chair Kris Andrews held a joint press conference at CoastHills Headquarters with Rep.  Salud Carbajal, who represents the 24th Congressional District in California, to recognize his  support in securing significant funding from the CARES Act and the Department of Treasury  Community Development Financial Institution (CDFI) Fund to support low and moderate income  households and small businesses along the Central Coast. In 2023, CoastHills Credit Union was  awarded more than $600,000 in Financial Assistance grants and $2,400,000 in Equitable Recovery  Program grants. 

“More than 70% of the loans we fund are to low-to-moderate income households, which is why  we’ve dedicated significant time and resources to becoming a Community Development Financial  Institution.” Said Paul Cook, President/CEO. “The CDFI grants allow us to expand our efforts to  provide products and services that reflect the needs of our diverse community.” 

CoastHills also funded 1,032 Small Business Association (SBA) Paycheck Protection Program (PPP) loans offered through the CARES Act, providing more than $55 million to local businesses  throughout the Central Coast in 2020 and 2021.  

The recent grant funds will be used to increase lending efforts to low-to-moderate income  households and businesses in the Credit Union’s five county footprint over the next 5 years.

CoastHills Board of Directors Chairman Kris Andrews, Rep. Salud Carbajal, CoastHills President/CEO Paul Cook


About CoastHills Credit Union

CoastHills is a not-for-profit Credit Union serving more than 76,000 members in Santa Barbara, San Luis Obispo, Monterey, Ventura and Santa Cruz counties. Founded in 1958 to primarily serve military and civilian personnel at Vandenberg Air Force Base, CoastHills now serves the entire community with 12 branches and a locally staffed full-service call center. With assets of more than $1.7 billion, CoastHills is the second largest locally owned financial institution on the Central Coast.


Rebecca Pohlman
AVP Marketing
(805) 291-7277

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