To promote economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIS) and emerging CDFIS.

This $125,000 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund will support technical assistance activities through the Community Development Financial Institutions Program (CFDA 21.020). The awardee, Cooperativa De Ahorro Y Credito De Yauco, will build organizational capacity to serve low-income and underserved markets and communities that lack access to affordable financial products and services. Eligible technical assistance activities include personal and professional services, travel, training, equipment and supplies. The goal is to strengthen certified and emerging Community Development Financial Institutions to promote economic revitalization and community development at the local level. No subrecipient activities were indicated. The period of performance is September 16, 2021 through June 30, 2024.

Activities

Technical assistance must be used for the following eligible activities subject to the applicable provisions of the uniform requirements: compensation ? Personal services, compensation ? Fringe benefits, professional service costs, travel costs, training and education costs, equipment, supplies, and incorporation costs (sponsoring entities only). End goal/expected outcomes: the goal of the technical assistance is to build certified and emerging cdfi?S organizational capacity to serve eligible markets and/or their target markets, in order to serve rural and urban low-income people, and communities across the nation that lack adequate access to affordable financial products and financial services.

Intended beneficiaries

Profit organization, private nonprofit institution/organization, other private institution/organization investment areas and targeted populations, as defined in 12 C.F.R. 1805.

Subrecipient activities

Only in the case where a cdfi depository institution holding company applicant intends to carry out the activities of an award through its subsidiary cdfi insured depository institution, as identified in its assistance agreement with the cdfi fund.