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News Now

CU System
Carolina minority center awards 3.65 million to CDCUs
DURHAM, N.C. (12/10/08)—The North Carolina Minority Support Center has awarded $3.65 million to its affiliate community development credit unions (CDCUs) to provide for their operational, business lending and expansion needs. Recipients, who will receive the awards by year end, include:
* First Legacy Community CU, Charlotte, $28.3 million in assets; * Greater Kinston CU, Kinston, $9 million assets; * Latino Community CU, Durham, $66.4 million assets; and * Generations Community CU, Durham, $20.3 million assets.
Funding for the award cycle was provided by North Carolina’s General Assembly to support CDCU services and their efforts to serve low- to moderate-income members (CarolinaNewswire.com Dec. 8). The CDCUs’ requests “demonstrate that even in the midst of a down economy, CDCUs across the state are experiencing tremendous demand for their products and services. Not only are they working to meet the needs of their current members, they actually have an opportunity to reach a greater number of low-moderate income families,” said Avani Parekh-Bhatt, development and program director at the support center. The support center is a statewide advocate that partners with CDCUs to provide technical assistance, grants and loans to help them build generational wealth and create opportunities for individuals, families and communities.


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