CU Strategic Planning clients win nearly half of treasury CDFI funds to CUs
25 CDFI Credit Unions receive grants for Community Development
TACOMA, WA (September 25, 2020) — Twenty-five community development credit unions received $16.7 million dollars in grants for efforts to bolster their communities’ economic situations, thanks to Treasury’s Community Development Financial Institutions Fund and CU Strategic Planning. CU Strategic Planning clients represented nearly half of all credit unions who received the CDFI grants.
“Congratulations to all of the CDFI Grant winners this year,” CU Strategic Planning Founder Jamie Strayer said. “We are particularly proud of our clients, who put in the time, effort and empathy to create and execute on these award-winning programs. We love working with all of our credit union clients to help them unlock the potential in their communities.”
Nearly half (45.5%) of all winning credit union applications came from CU Strategic Planning client credit unions. They also earned an average of $666,420, which was 10.4% more than other credit unions granted Financial Assistance Awards. CU Strategic Planning also wrote 2 of the 3 largest credit union awards at $900,000 each.
In total, 230 CDFIs, including 55 credit unions, earned awards totaling $127 million in Financial Assistance grants.
Treasury’s CDFI Fund pairs federal dollars withinnovative investments of private sector capital to support mission-driven financial institutions to support economically disadvantaged communities. CDFI Financial Assistance awards can be up to $1 million, and they are used to boost usage of products and services, provide new services, expand operations or service new targeted populations.
About CU Strategic Planning
Since 2008, CU Strategic Planning has provided business planning services for credit unions, focusing on community development. The company is the No. 1 CDFI certification, grant-writing and compliance firm for credit unions in the country. Through grants, strategic and tactical planning, 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 expert consulting includes securing and managing compliance for $945 million in US Treasury CDFI grants and related award funding.
