This is a Project Grant award of $835,000 from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program (CFDA 21.020). The grant will enable Local 1199 Credit Union, a certified CDFI, to invest in and build the capacity of its organization to drive community revitalization and economic development in underserved populations.
Specifically, the funding will support Local 1199 Credit Union's initiatives to create jobs, build businesses, and foster economic self-determination in Native communities nationwide. This includes providing affordable financial products, expanding lending in low- and moderate-income areas, delivering financial services to communities disproportionately impacted by COVID-19, and helping marginalized populations access affordable capital. The grant's performance period runs from September 2024 through December 2027.
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