Project Grant 241FA065579G

Award Date 9/26/24
Completion Date 12/31/27
Dollars Obligated $800K
Federal Grant Program
21.020
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) Program awarded a $800,000 Project Grant to Hawaii Federal Credit Union on September 26, 2024. This funding is intended to promote economic revitalization and community development by building the financial capacity of CDFIs to serve low-income and underserved populations across the United States.

The grant will enable Hawaii Federal Credit Union, a certified CDFI, to provide financial products, financial services, development services, loan loss reserves, and capital reserves to its eligible markets and target communities. This funding aims to help the credit union expand its lending activities, establish loan loss reserve funds, provide technical assistance, and deliver affordable financial products to populations disproportionately impacted by the COVID-19 pandemic, with a focus on increasing small dollar lending to unbanked and underbanked individuals, building organizational capacity, and creating pathways for financial inclusion.

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