Ecority poised to help credit unions become nationwide leaders in green lending with $14B+ grant application
SAN ANTONIO, TX (November 7, 2023) — Ecority, a nonprofit that has built a national coalition of credit unions and state-chartered green banks, applied to the $27B EPA-administered Greenhouse Gas Reduction Fund. The coalition is poised to catalyze the U.S. credit union sector to rapidly deploy clean energy projects at an unprecedented scale nationwide, with a focus on low-income and disadvantaged communities.
Ecority’s grant application, which includes an aggregate of $14.87B from the National Clean Investment Fund and Clean Communities Investment Accelerator Fund of the Greenhouse Gas Reduction Fund, has received the full endorsement of NAFCU and CUNA. Ecority’s coalition includes regional and state credit union leagues representing thousands of community lenders in every U.S. state and territory.
“This is a huge opportunity for credit unions to offer affordable financing to households who would benefit most from clean energy projects, while managing risk and diversifying their loan portfolios,” says Chuck Purvis, Interim CEO & Board Member of Ecority. “Ecority will use the grant to fund a guaranty pool and provide technical assistance, enabling credit unions to autonomously lend for more eligible projects at lower rates, and include borrowers who may not otherwise qualify.”
While the grant submission period has ended, interested credit unions may still apply to participate and potentially become subrecipients of grant funds through Ecority, by visiting
ecority.org/register and submitting a letter of interest.
About Ecority
Ecority is an independent nonprofit established to specifically comply with the statutory requirements of the Greenhouse Gas Reduction Fund (GGRF). Its coalition includes credit unions, state and regional credit union leagues representing thousands of community lenders in every U.S. state and territory, and the nation’s largest state-chartered green banks, who will rapidly deploy clean energy projects at an unprecedented scale nationwide, with a focus on low-income and disadvantaged communities. Learn more at Ecority.org.
