The Syracuse Cooperative Federal Credit Union received a $136,696 Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund under the Small Dollar Loan Program (CFDA 21.025). The grant will enable the credit union to establish a loan loss reserve and provide technical assistance to support a small dollar loan program. Through this initiative, the credit union aims to increase access to affordable capital for underbanked populations and help them build credit. Specifically, the loan loss reserve will help defray costs of maintaining small dollar lending, while technical assistance funding will support technology, staffing, and other eligible activities. The expected outcomes are greater small dollar lending to advance financial inclusion goals for the credit union's members and community. There are no sub-recipients associated with this award.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $136.7k | 9/27/22 |