Resources to Help Credit Unions Apply for ECIP

Inclusiv invites you to the second installment of our Town Hall series focused on the Treasury Department's Emergency Capital Investment Program (ECIP). The program will provide $9 billion in low-cost, long-term capital investments to community development financial institution (CDFI) depositories and minority depository institutions (MDIs).

If your credit union submitted its application for CDFI certification as of Dec. 27, 2020 and is currently certified, or is MDI designated AND has the low-income designation, then it is eligible to apply for long term, inexpensive secondary capital. Still wondering if this is the right fit for your credit union? There’s still time to apply. Join the Inclusiv team to learn about tools and guidance that may help you make an informed decision.

The ECIP program represents a historic opportunity to access an unprecedented level of resources to support the growth of your institution as the country continues its economic recovery process.

Secondary Capital is high octane fuel that your credit union can use to absorb and leverage the liquidity that our industry is experiencing. Do not let this opportunity pass you by.

Resources to help you participate in this opportunity:

• Click here to see the comment letter we sent to Treasury earlier this week.
• Inclusiv is making available to its members a template for the streamlined ECIP application available to the right.
• Let us know if you need our financial projections tool at capital@inclusiv.org. It’s available for a small nominal fee.
• Attend our Thursday ECIP Office Hours every Thursday at 3 p.m. until July 1

Apply for ECIP capital to transform your community and to continue work that advances social equity and financial inclusion. Applications must be received by the Department of Treasury by July 6, 2021.

For questions about Inclusiv's secondary capital products and the ECIP application process, please contact capital@inclusiv.org.