The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $280,369 Project Grant under the Bank Enterprise Award (BEA) Program to West Alabama Bank & Trust on Sep 19, 2024. The BEA Program provides monetary awards to FDIC-insured depository institutions that demonstrate increased investments and support for certified Community Development Financial Institutions (CDFIs).
Through this grant, West Alabama Bank & Trust will use the funds to increase its community development financing and service activities in the most economically distressed communities it serves. Specifically, the bank will expand lending, investments, technical assistance, affordable housing financing, small business support, and tailored financial products for low- and moderate-income populations in underserved areas. This grant award aligns with the CDFI Fund's mission of leveraging federal resources to promote economic development in underserved communities across the United States.
Generated 3/25/25, 5:54 AM