How can your credit union improve its position to apply for a CDFI grant?

Just last week on June 5, great news reached the United States’ credit union community. The United States Treasury announced they had awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFI).   The grants were provided through the Treasury’s Community Development Financial Institution Rapid Response Program (CDFI RRP) and provided appropriate capital for CDFIs to address […]
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Access to Small Dollar Lending Increases with Financial Inclusion Bill

Financial access to America’s economically underserved communities may have just received a big legislative boost.  The Credit Union National Association (CUNA) wrote a letter to the House Financial Services Committee leadership on June 8, 2021, fully backing the proposed Expanding Financial Access for Underserved Communities Act, an amendment to the Federal Credit Union Act. During the May hearing, […]
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Why CDFIs Are Exactly What Consumers Need Right Now

In early April of this year, NPR ran a story on the underbanked and what it meant to run one’s financial life outside the American banking system. Whether it’s the perception of higher fees, lack of trust, or something else, 63 million underbanked or unbanked Americans do not use a financial institution to save money, cash checks, apply for […]
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