Earlier this fall, credit unions were awarded a record-breaking $30 million in Community Development Financial Institution grants from the United States Treasury. That's great news for credit unions and the communities they serve. The better news is that credit unions have been garnering a larger share of the CDFI awards each year. It's a trend that's definitely on the rise.
If you decide your credit union needs a slice of the CDFI pie as well, there are some hallmarks of a top-notch grant application that will help you qualify for these funds. Just a reminder, however – this is a competitive process. To help give you a leg up, listed below are a nine tips that will enable your credit union to be successful in garnering these all-important funds for a significant and lasting impact on your community and members.
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