Community Development Financial Institutions Fund Director Donna Gambrell, Treasury Deputy Assistant Secretary Don Graves and Rep. Gwen Moore (D-Wis.) announced Monday nearly $187 million in CDFI awards to 210 organizations serving low-income communities, including 23 credit unions.
The National Federation of Community Development Credit Unions also received a $1.45 million CORE grant.
The fiscal year 2012 awards represent the largest single announcement of award dollars and award recipients in the CDFI Fund's history, according to a release.
“I am pleased to announce the 2012 awards for the CDFI Program and the NACA Program, which will increase the capacity of CDFIs serving low-income and Native communities across the country,” Gambrell said.
“This year's awardees will continue to provide vital financial services in low-income areas that are typically overlooked by traditional lenders, bettering the lives of Americans nationwide,” she said.
Moore attended the announcement event in Milwaukee, which was held at Antigua, a restaurant that got its start with the help of loans and financial education provided by the Wisconsin Women's Business Initiative Corporation, a local CDFI and 2012 CDFI Program awardee. The restaurant has created 19 new jobs for the local community.
“The financial assistance and educational resources provided by the CDFI and NACA Programs here in Milwaukee are critical to our community's growth and building a strong, robust economy, Moore said.
Full details of the awardees may be found on the CDFI Fund's website.
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