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48 credit unions receive CDFI awards totaling $34.5 million

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The U.S. Department of the Treasury's Community Development Financial Institutions Fund on Wednesday announced grant awards for 2018, with 48 credit unions receiving CDFI awards for a total of $34.5 million.

In a first for the CDFI Fund, among the credit unions receiving grants were four cooperativas de ahorro y credito in Puerto Rico. All four CUs in Puerto Rico received Technical Assistance Grants, as did two credit unions in Texas. Most of the awardees received Financial Assistance Grants.

Two of the Financial Assistance Grantees also received grants in a second category. Jackson, Miss.-based Hope CU was awarded a $950,000 Financial Assistance Grant and a $1 million Healthy Food Financing Initiative Financial Assistance Grant. Verdian CU, Waterloo, Iowa, received a $950,000 Financial Assistance Grant and a $225,000 Disability Funds Financial Assistance Grant.

In total, the CDFI Fund announced grants and loans to 302 organizations totaling $202.2 million

The National Federation of Community Development Credit Unions, which advocates on behalf of low-income consumers to gain greater access to safe and responsible credit union products and services, issued a statement congratulating all 2018 CDFI credit union awardees.

This year's grant recipients include::

Financial Assistance Grants:

· Advia CU, Parchment, Mich., $500,000
· Appalachian Community FCU, Gray, Tenn., $1,125,000
· Brooklyn Cooperative FCU, Brooklyn, N.Y., $1,125,000
· Buckeye State CU, Akron, Ohio, $875,000
· Commodore Perry FCU, Oak Harbor, Ohio, $875,000
· Cutting Edge FCU, Milwaukie, Ore., $600,000
· Day Air CU, Kettering, Ohio, $700,000
· DC CU, Washington, D.C., $700,000
· Engage FCU (formerly RRME), Natchitoches, La., $650,000
· First Financial CU, Albuquerque, N.M., $750,000
· Fort Financial CU, Fort Wayne, Ind., $600,000
· Frankenmuth CU, Frankenmuth, Mich., $875,000
· Freedom First FCU, Roanoke, Va., $950,000
· Freedom Northwest CU, Kamiah, Idaho, $700,000
· GECU, El Paso, Texas, $500,000
· Genesee Co-Op FCU, Rochester, N.Y., $600,000
· Greater Kinston CU, Kinston, N.C., $500,000
· Hope CU, Jackson, Miss., $950,000
· HopeSouth FCU, Abbeville, S.C., $500,000
· Houston Metropolitan FCU, Houston, Texas, $875,000
· Innovations FCU, Panama City, Fla., $500,000
· JetStream FCU, Miami Lakes, Fla., $1,250,000
· Lake Trust CU, Brighton, Mich., $975,000
· LES Peoples FCU, New York, N.Y., $700,000
· Lower Valley CU, Sunnyside, Wash., $600,000
· MECU of Baltimore, Baltimore, Md., $875,000
· Members First CU, Quincy, Ill., $600,000
· Mid Minnesota FCU, Baxter, Minn., $500,000
· Montgomery County Employees FCU, Germantown, Md., $600,000
· NYU FCU, New York, N.Y., $875,000
· One Detroit CU, Detroit, Mich., $600,000
· Orion FCU, Memphis, Tenn., $1,125,000
· Ouachita Valley FCU, West Monroe, La., $1,125,000
· Our Mother of Mercy FCU, Houston, Texas, $400,000
· Royal CU, Eau Claire, Wis., $600,000
· Santa Cruz Community CU, Santa Cruz, Calif., $700,000
· Southwest Louisiana CU, Lake Charles, La., $950,000
· Suncoast CU, Tampa, Fla., $950,000
· The Finest FCU, New York, N.Y., $600,000
· University of Louisiana FCU, Lafayette, La., $950,000
· Vantage West CU, Tucson, Ariz., $950,000
· Verdian CU, Waterloo, Iowa, $950,000

Technical Assistance Grants:

· Cooperativa de Ahorro y Credito Aibonitena, Aibonito, Puerto Rico, $125,000
· Cooperativa de Ahorro y Credito de Jayuya Incorporada, Jayuya, Puerto Rico, $108,179
· Cooperativa de Ahorro y Credito Jesus Obrero, Caguas, Puerto Rico, $124,000
· Cooperativa de Ahorro y Credito Saulo D. Rodriguez, Gurabo, Puerto Rico, $125,000
· First Central CU, Waco, Texas, $115,915
· Light Commerce CU, Houston, Texas, $ 124,576

Healthy Food Financing Initiative Financial Assistance Grant:

· Hope CU, Jackson, Miss., $1,000,000

Disability Funds Financial Assistance Grant:

· Verdian CU, Waterloo, Iowa, $225,000

For a full list of 2018 CDFI Program Awardees, click here.

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