Sisseton-Wahpeton and Centric Credit Unions are Top 25 Deep Impact Lenders
Overall, 21 CU Strategic Planning clients earned a spot on the ECIP Awards list
TACOMA, WA (April 16, 2024) — The Emergency Capital Investment Program (ECIP) Investing for Impact Report recognized Sisseton-Wahpeton Federal Credit Union and Centric Federal Credit Union as two of the top 25 ‘Deep Impact Lenders.’
According to Quarterly Supplemental Reports submitted to the U.S. Department of Treasury by ECIP participants, 99.8% of Sisseton-Wahpeton FCU’s lending qualified as ‘Deep Impact’ in 2022, meaning the $5.6M South Dakota credit union served low-income borrowers, persistent poverty counties, native communities, underserved businesses, deeply affordable housing and other relevant activities. Louisiana’s $368M Centric FCU was not far behind at 93.3%.
“Time and again, Community Development Financial Institution-certified credit unions go above and beyond to serve all their members,” CU Strategic Planning Co-Owner/CEO Stacy Augustine said. “This is why we do the work we do. It’s incredibly gratifying to see our efforts on behalf of credit unions translate into real dollars for these communities that need it most.”
In total, 170 CDFIs and Minority Depository Institutions were provided ECIP funds, 78 of which were credit unions. Twenty-one were CU Strategic Planning clients and represented $1.4 billion, or half, of credit unions’ total deep-impact loans through the program. CU Strategic Planning clients also averaged more than double, $67 million, in deep impact lending than other credit unions.
“We don’t just get our credit unions certified, help them win grants and then run,” Co-Owner/CXO Mike Beall said. “We support them in optimizing the funds to reach the most people in need and make the most significant investments possible.”
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.
