CU Strategic Planning applauds CDFI Technical Assistance grant winners
TACOMA, WA (September 20, 2019) — CU Strategic Planning, the No. 1 writer of $1 million CDFI Financial Assistance Awards, congratulates the winners of $125,000 Technical Assistance Awards announced by the Community Development Financial Institutions Fund yesterday.
“The credit unions that received the Technical Assistance awards for capacity building are on a path to even greater health and strength as Community Development Financial Institutions,” CU Strategic Planning Founder Jamie Strayer said. “Although, CU Strategic Planning does not write these grants, we know how important the awards are to building capacity of small and emerging credit unions.”
The CDFI Fund provides Technical Assistants grants of up to $125,000 to build Certified, Certifiable, and Emerging CDFIs’ organizational capacity to serve eligible or their target markets and Financial Assistance awards of up to $1 million to Certified CDFIs to build their financial capacity to lend to eligible, target markets.
Technical Assistance grants are offered to CDFIs and Certifiable CDFIs to build their organizational capacity, including compensation and fringe benefits services, professional service costs, travel costs, training and education costs, equipment, supplies and incorporation costs. Certified and Emerging CDFIs are eligible to apply for Technical Assistance awards, however, Emerging CDFIs must demonstrate that they have the ability to become a Certified CDFI within three years of receiving a Technical Assistance grant.
Financial Assistance funds are awarded for loan loss reserves, capital reserves, financial products, financial services and development services. Applicants may submit an application for either award under the CDFI Program, but not both, unless applying through the Native American Program.
“For 25 years, the CDFI Fund’s Technical Assistance awards have helped CDFIs grow their organizations and better their capacity to provide financial products and services in low-income communities,” said CDFI Fund Director Jodie Harris. “The FY 2019 CDFI Program and NACA Program Technical Assistance recipients will continue that work in communities across the country, including 28 states and Puerto Rico.”
The CDFI Fund will announce Financial Assistance pending awards in December 2019.
About CU Strategic Planning
Since its founding 15 years ago, CU Strategic Planning has become the No. 1 CDFI certification and grant-writing firm for credit unions in the U.S. Through grants, strategic and tactical planning, DEIBA consulting, HERO Community Development Financial Counselor training, community summit facilitation and more, CU Strategic Planning achieves its mission to unlock opportunities for credit unions to change lives and their communities. CU Strategic Planning’s funding procured for CDFI credit unions has reached $945 million.
