The Department of the Treasury's Community Development Financial Institutions Fund awarded a $136,163 Project Grant to Oswego County Federal Credit Union through the Small Dollar Loan Program (CFDA #21.025). The grant will enable the credit union to establish a loan loss reserve and receive technical assistance to develop and maintain a small dollar loan program. This program aims to provide an alternative to high-cost small dollar loans and help the unbanked and underbanked build credit and access affordable capital. No subrecipients are involved. The expected outcomes are an increase in small dollar lending to expand access to mainstream financial services for underserved populations. The completion date is December 31, 2025.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $136.2k | 9/27/22 |