Two Affiliated Credit Unions Receive CDFI Fund Grants
MECU Credit Union and Del-One FCU were among the recipients of the U.S. Department of Treasury’s CDFI Fund grants for FY22.
The funding will enable Community Development Financial Institutions to substantively expand lending and investment activity in disadvantaged and distressed neighborhoods and communities.
• Baltimore-based MECU Credit Union received a total of $660,000, which includes $560,000 for Base Financial Assistance and $100,000 for Technical Assistance.
• Delaware-based Del-One FCU was awarded $125,000 for Technical Assistance
Base-Financial Assistance awards can be used for lending capital, loan loss reserves, capital reserves, financial services and development services. Technical Assistance awards are used for capacity development such as purchasing additional equipment, paying for consulting or contracting services, paying salaries and benefits, or training staff or board members.
You can view the complete FY22 list of CDFI Fund Grants here.
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