Carter Fed Credit Union

Carter Fed Credit Union is a non-profit organization and community development corporation registered in the federal System for Award Management (SAM.gov) since 2006, with current registration valid until May 13, 2025. The credit union specializes in providing financial services and support to underserved communities, focusing on economic development, financial inclusion, and community revitalization through targeted lending and investment programs. As a Community Development Financial Institution (CDFI), Carter Fed Credit Union has demonstrated a commitment to addressing financial disparities and supporting economic growth in low- and moderate-income areas.

The credit union has consistently received federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions Fund, securing multiple significant grants across different targeted programs. These grants include the Community Development Financial Institutions Program ($1,110,000), the Small Dollar Loan Program ($383,223), the Equitable Recovery Program ($2,478,839), and the Rapid Response Program ($1,484,000). Through these awards, Carter Fed Credit Union has provided critical financial services such as establishing small business loan programs, creating loan loss reserves, delivering technical assistance, expanding lending capabilities in low-income communities, and responding to economic challenges posed by the COVID-19 pandemic. The grants enable the credit union to offer affordable capital, build organizational capacity, acquire necessary technology and resources, and support job creation and business development in underserved communities. Each grant has a specific focus on economic empowerment, financial inclusion, and community development, with grant periods typically extending three to five years.