Low-income credit unions that become certified as Community Development Credit Unions find added opportunities to reach underserved members.
The U.S. Treasury grant supports CDFI investment and revitalization activity, with Trailhead taking special focus on bringing more affordable credit to micro-businesses and consumers in inner-Portland.
Newrizons, Lighthouse Community, and Point West were featured as CDFI success stories in a new video series from the NCUA. Read an update on Point West’s CDFI status since the video was filmed.
Five-video series will help credit unions get certified; Can you follow Robert’s Rules for board meetings?; Plus this week’s legal briefs.
New Congress and regulatory cycles open 2015 opportunities to provide regulatory relief and improve the operating environment for Northwest credit unions.
Point West Credit Union gets CDFI certified; Gesa Credit Union hosting free communication seminar; St. Helens Community Credit Union unveils new branding; Industrial Credit Union raises $27,500 for food banks; Unitus Community Credit Union’s Wine on the Willamette raises over $50,000.
Grants are awarded up to $2 million for serving low-income communities. Deadline is November 24. Free webinar on October 22.
The CDFI Fund awarded grants to two Washington credit unions for work with underserved market niches, community development.
Cascade Forest Products Credit Union has changed its name to Lighthouse Community Credit Union in an effort to improve its visibility in the community, but the credit union remains committed to serving the low- to moderate-income consumers in the Vancouver area who are mostly overlooked by traditional financial institutions.
It only took Cutting Edge Federal Credit Union 90 minutes to get its low-income designation and another 10 minutes to apply for an NCUA grant. A month later, the credit union was awarded $2,500 to help it apply for CDFI certification and gain access to more resources that it can use to help members and the community.
NCUA To Award First Round of Grants for CDFI Certification Applicants, New Products and Summer Internships
Low-income-designated credit unions can receive as much as $16,500 for CDFI certification, new products and student internships when the National Credit Union Administration awards its first round of technical-assistance grants in 2014. Applications will be accepted Feb. 3-14.
Upcoming trainings in Portland and Seattle will detail the benefits of low-income or community development designation, a status that helped Express Credit Union more than double membership and improve services and technology.
The NWCUA and the NFCDCU are teaming up to provide two education sessions highlighting the work currently being done to bring affordable, sustainable financial services to low-income consumers and underserved communities.
Industrial will use its award to establish a small business and microenterprise loan program, which should create 1,500 jobs in Whatcom County.