WASHINGTON (8/7/12)--The U.S. Treasury Department's Community Development Financial Institutions Fund (CDFI Fund) announced Monday that it awarded a total of $186,853,456 to 210 organizations serving low-income communities, including credit unions or credit union organizations, as it closed it fiscal year (FY) 2012 grants and awards program.
The FY 2012 awards, provided through the CDFI Fund's Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), represent the largest single announcement of award dollars and award recipients in the CDFI Fund's history.
Through the CDFI Program, 22 credit unions were among the 177 organizations to receive a total of $152,281,326 in Financial Assistance (FA) or Technical Assistance (TA) awards. A total of 144 FA and 33 TA awards were made to credit unions, loan funds, venture capital funds and depository institutions/holding companies.
In addition to the CDFI Program's Financial Assistance and Technical Assistance awards, the CDFI Fund also awarded additional funds to 12 organizations that requested and qualified for Healthy Food Financing Initiative Financial Assistance (HFFIFA). HFFIFA is an interagency initiative involving the CDFI Fund, the U.S. Department of Health and Human Services, and the U.S. Department of Agriculture and is intended to increase the supply of and demand for nutritious foods in low-income urban and rural areas in the U.S.
Under the NACA Program for FY 2012, 33 organizations--including four credit unions--received a total of $11,473,647 in awards, all of which were grants. In addition to the credit unions, 28 loan funds and one bank or thrift received awards.
The NACA Program encourages the creation and strengthening of certified CDFIs that primarily serve Native American, Alaska Native, and Native Hawaiian communities.
Use the resource link to go to the CDFI Fund website to read more about the grants.