Southern Chautauqua Federal Credit Union

Southern Chautauqua Federal Credit Union is a corporate entity and federally insured credit union providing financial services to its members. As a certified Community Development Financial Institution (CDFI), it has received federal grants to increase lending and financial assistance to underserved communities.

Southern Chautauqua Federal Credit Union has been awarded multiple federal grants as a prime recipient to establish a small dollar loan program, provide products and services to communities impacted by COVID-19, offer tax preparation assistance, and receive technical assistance. These grants were awarded by the Department of the Treasury's Community Development Financial Institutions Fund and Internal Revenue Service. Specifically, Southern Chautauqua received a $271,988 SDL Program grant and a $125,000 technical assistance grant from the CDFI Fund to develop a small dollar loan program as an alternative to high-cost predatory lending. Additionally, Southern Chautauqua was awarded a $1.8 million CDFI Rapid Response Program grant to mitigate the economic impacts of the coronavirus pandemic. The credit union also received a $48,256 IRS grant to offer tax preparation services for low income and rural taxpayers. Southern Chautauqua Federal Credit Union has not engaged any subrecipients in delivering the funded services through these federal grants.