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

The $125,000 Project Grant from the Department of the Treasury Community Development Financial Institutions Fund will support Faith Community United Credit Union Inc.'s provision of technical assistance services. Under the Community Development Financial Institutions Program (CFDA 21.020), the grant aims to build the organizational capacity of certified and emerging Community Development Financial Institutions to serve low-income communities and individuals who lack access to affordable financial products and services. Faith Community United Credit Union will use the two-year funding period ending December 31, 2023 to provide eligible technical assistance activities including personal and professional services, travel, training, equipment and supplies. The intended beneficiaries are for-profit organizations and private non-profits. The grant supports the federal program's goal of promoting economic revitalization and community development.

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.