Twenty-four credit unions or credit union organizations received grant assistance from the U.S. Treasury Department's Community Development Financial Institutions Fund in the latest round of funding.
The twenty-two credit unions and two credit union organizations, the National Federation of Community Development Credit Unions and the El Paso Credit Union Affordable Housing LLC, represent entities in 13 states. Collectively, they received $15.3 million, or a bit more than 10% of the more than $149 million the fund distributed.
Donna Gambrell, director of the CDFI Fund, highlighted how the awards will benefit what the fund called "a broad swath of Americans." Gambrell said the 2012 awards will increase the capacity of CDFIs serving low-income and native communities across the country. "This year's awardees will continue to provide vital financial services in low-income areas that are typically overlooked by traditional lenders."
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