The $350,000 Project Grant award from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program, with a CFDA number of 21.020, supports the Demopolis Federal Credit Union, a minority-owned, not-for-profit financial institution serving low- and moderate-income communities in Demopolis, Alabama. The grant funding will enable the credit union to expand its financial services, lending, and community investment activities to increase economic opportunities and drive revitalization in disadvantaged areas. Specifically, the grant will support critical initiatives such as staffing, technology acquisition, training, lending expansion, and developing infrastructure to better serve the credit union's target markets, particularly in Native American and low-income communities. The award date is September 26, 2024, and the ultimate completion date is December 31, 2027.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $350.0k | 9/26/24 |