NEW YORK — The National Federation of Community Development Credit Unions announced that 11 community development credit unions were awarded grants from the U.S. Treasury Department's Community Development Financial Institutions Fund in the 2006 round of awards.
This totaled roughly $3.3 million or about 12.6% of the total of over $26 million.
Four CDCUs won the maximum amount possible, $585,000, a number far lower than in other years, reflecting the diminished appropriations the Fund has been receiving from Congress.
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The four CDCUs that won Financial Assistance awards of $585,000 this year included ASI FCU of New Orleans; Latino Community of Durham, N.C.; Saguache County CU of Moffatt, Colo.; and Self Help CU of Durham, N.C. Community Trust CU of Modesto, Calif. won an award of $393,000; South Side Community FCU of Chicago ($150,000); and Neighborhood Trust FCU of New York ($100,000).
Four CDCUs also won Technical Assistance awards. Lower East Side People's FCU, New York, and Pacoima Development FCU in Lake View Terrace, Calif., each received $100,000. Syracuse Cooperative FCU of Syracuse N.Y. won $99,969, and El Futuro CU of Porterville, Calif. won over $99,000.
Two other CUs also won awards, the Federation reported. Molokai Community FCU won $380,000 and First Hawaiian Homes FCU won $78,000.
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