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Michigan Credit Union League

CDFI Fund Announces Nearly $34.5 Million to Credit Unions Serving Low-Income Communities

The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund recently announced grants and loans to 302 organizations, totaling $202.2 million. Forty-eight credit unions were given CDFI awards this year, for a total of $34.5 million. Among these are four cooperativas de ahorro y credito in Puerto Rico, for the first time in the fund's history.

Michigan was recently recognized in Credit Union Journal as one of the top ten states in the nation with the most certified CDFI credit unions, tied in second place with Florida at 19 CDFI-certified credit unions.

Michigan credit unions who received these most recent grants include:

  • Advia Credit Union, Parchment
  • Frankenmuth Credit Union, Frankenmuth
  • Hope Credit Union, Jackson
  • Lake Trust Credit Union, Brighton
  • One Detroit Credit Union, Detroit
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2018-09-20 00:00:00