Maryland has opened the application window for the new Maryland Community Investment Venture (MCIV) Fund, a program created under the 2023 Access to Banking Act to expand access to capital for small businesses in underserved communities. Applications opened November 10, with pilot projects expected to be selected early next year and launched in 2026.

A key feature of the program is its strong partnership with community financial institutions like credit unions. MD|DC Credit Union Association president and CEO John Bratsakis is a member of the MCIV Advisory Board, and the Association hosted an Innovation Roundtable earlier this year, bringing together state officials and credit unions to help guide the direction of the initiative.

The MCIV Fund will award grants to fintech firms creating tools that credit unions and other community financial institutions can use to reach more businesses, streamline lending processes, and strengthen services in low- and moderate-income communities.

Once awards are made, the Office of Financial Regulation will track metrics such as loan activity, processing times, customer satisfaction, and outreach into new communities.