Grant to Support Expansion of Credit Union Services

Posted by on August 6, 2004

Two New Grant Programs to Support Expansion of Credit Union Services
Deadline: September 20, 2004

The National Federation of Community Development Credit Unions has launched two separate grant programs designed to expand credit union services in underserved areas and promote credit union alternatives to payday lending.

Bridge grants of up to $100,000 will be awarded to "mainstream" credit unions — those which have not traditionally focused on serving low-income communities — to rapidly expand the reach of credit union services in these areas. The Bridge RFP encourages mainstream credit unions to partner with Community Development Credit Unions (CDCUs) and others that specialize in serving low-income communities. Funding for Bridge grants was provided by a grant from the Ford Foundation.

APPLE ("Alternative Products to Payday Lending") grants will support at least five CDCU pilot programs. To be eligible for an APPLE grant, CDCUs must be members of the federation and must be located within the markets served by J.P. Morgan Chase and Bank One, which supplied funding for the program through their respective foundations.

To view the APPLE or Bridge Project RFPs, or for additional information on other federation programs, visit the federation’s Web site.

RFP Link: <a href="http://www.natfed.org/i4a/pages/index.cfm?pageid=1">http://www.natfed.org/i4a/pages/index.cfm?pageid=1</a>

For additional RFPs in Human Services, visit: <a href="http://fdncenter.org/pnd/rfp/cat_human_services.jhtml">http://fdncenter.org/pnd/rfp/cat_human_services.jhtml</a>