Twenty-one credit unions received $30 million in Community Development Financial Institution (CDFI) grants from the U.S. Treasury. Among the credit unions was GTE Financial, based in Tampa. GTE secured a $1.75 million grant. In total, 195 financial institutions secured grants worth more than $200 million. As you can see, CDFI certified credit unions have opportunities to secure grants.
The League is working with credit unions in Florida on its Community Development Across Florida program. The program helps CDFI-certified credit unions in the grant writing process. The League is also working with credit unions in Alabama to get them certified as Community Development Financial Institutions. If your credit union has questions about gaining its low-income designation or the CDFI grants, contact VP of Cooperative Initiatives Laura Vann at 866.231.0545 ext. 2181.