Project Grant 241BE066408G

Award Date 9/19/24
Completion Date 12/31/25
Dollars Obligated $252K
Federal Grant Program
21.021
Assistance Type
Project Grant
Place of Performance
United States
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The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $252,171 Bank Enterprise Award (BEA) Program grant to Union Bank & Trust Company on September 19, 2024. The BEA Program provides monetary awards to FDIC-insured depository institutions that demonstrate increases in their investments and support to certified CDFIs or in their lending, investing, or service-related activities in the most economically distressed communities.

Through this grant, Union Bank & Trust Company, a for-profit CDFI based in Monticello, Arkansas, will use the funds to increase loans, investments, services, and technical assistance to residents, businesses, and other CDFIs in economically distressed areas. The expected outcomes include demonstrated increased investments and support to certified CDFIs or in the bank's own community development financing activities in underserved communities. The project period for this grant is from September 19, 2024, to December 31, 2025.

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