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FLAG Credit Union earns $125,000 CDFI technical assistance award

CU Strategic Planning stepped up for 1 TA award this year and made it count

TACOMA, WA (September 17, 2021) — CU Strategic Planning extended its reach to write grant applications for the U.S. Treasury’s Community Development Financial Institutions Fund Technical Assistance grants for FLAG Credit Union. The $54 million CDFI and its members won big with a $125,000 award, the full amount of the request.

Just 174 organizations received Technical Assistance awards in FY 2021, totaling $24.1 million, according to Treasury. Technical Assistance Awards help Certified CDFIs and emerging CDFIs to build capacity to provide services to low-income and underserved people and communities across America.

“We’re very excited to be receiving this grant so we can increase our reach to deserving people who need the guidance and services we can an provide,” FLAG CU Interim CEO Amy Green said. “And we couldn’t have done it without the extraordinary support of CU Strategic Planning’s experienced and dedicated team.”

FLAG CU is based in Tallahassee, Fla., which has a poverty rate of 26.4%. Over the last five years, the credit union has increased its lending in the area by 42.5%. Flag CU will leverage the grant to add staffing and upgrade its technology to increase lending and expand financial inclusion.

FLAG will create a new position at the credit union, Financial Navigator, to help members access the credit union’s technology and offer one-on-one coaching to consumers, particularly the low-income and elderly members who are unfamiliar with technology. This will prove an essential role as the credit union expands its ability to serve through technology; FLAG will also use the grant money to lease two interactive teller machines.

“FLAG Credit Union is an example of why the TA Awards exist,” CU Strategic Planning President/CEO Stacy Augustine said. “It is on the path to becoming a stronger CDFI and earning future, larger Financial Assistance Awards. Our job is to facilitate that path. While we’ve both won today, it is the marginalized consumers in Tallahassee who are the big winners.”

CU Strategic Planning, the leading writer of CDFI grants for credit unions, focuses mainly on Financial Assistance Award grants, earning client credit unions $250 million to date.

Stacy Augustine


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.

Contacts

Sarah Snell Cooke
sarah@cookeconsultingsolutions.com

 

 

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