Self-Help Credit Union received a $5.25 million Capital Magnet Fund award from the Department of the Treasury's Community Development Financial Institutions Fund on February 22, 2021. The funding will support the Capital Magnet Fund program's goal of creating and preserving affordable housing for low-income families and economically distressed communities. As outlined in the program's description under the Catalog of Federal Domestic Assistance, the grant capital will be used to attract private investment that finances affordable housing preservation and rehabilitation. Self-Help Credit Union will leverage the federal funding to increase affordable housing opportunities through public-private partnerships.
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