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News Now

CU System
Firm wrote nearly 50 of new CU CDFI grants approved
WASHINGTON (8/8/12)--CU Strategic Planning, a firm that specializes in credit union grant writing, wrote nearly 50% of the award-winning credit union Community Development Financial Institution applications funded this year by the U.S. Department of the Treasury.

The award-winning applications were submitted on behalf of 10 credit unions in eight states, including two receiving Native-designation funding.

The Treasury's CDFI Fund announced Monday that it awarded a total of $186.8 million to 210 organizations serving low-income communities, including credit unions or credit union organizations, as it closed its fiscal year 2012 grants and awards program (News Now Aug. 7).

As recently as 2009, the first year that CU Strategic Planning submitted an application, only two credit unions won the grants. One was submitted by CU Strategic Planning. Today, 22 credit unions were awarded funds today, with 10 award-winning applications written by CU Strategic Planning.

The awards range in size from $99,999 to $1.2 million. Credit unions that received assistance from CU Strategic Planning in the grant writing process include:

  • Bridgeway FCU, Poughkeepsie, N.Y.;
  • Caddo Parish Teacher's FCU, Shreveport, La.;
  • Coshocton (Ohio) FCU;
  • JetStream FCU, Miami Lakes, Fla.;
  • Kingsville (Texas) FCU;        
  • Molokai Community FCI, Kaunakakai, Hawaii;
  • Natco CU, Richmond, Ind.;
  • Prince Kuhio FCU, Honolulu;
  • Shreveport (La.) FCU; and
  • Thurston Union of Low Income People, Olympia, Wash.
The Treasury established the CDFI Fund in 1994 to provide credit, capital and financial services to underserved populations. With the announcements of the latest awards, the CDFI Fund has awarded  $1.7 billion through the CDFI Program.


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