Several Connecticut-based community development financial institutions (CDFIs) will receive more than $12 million in COVID-19-related funding from the U.S. Department of the Treasury. The grants are part of a $1.25 billion program to provide COVID-19 relief funds to 863 CDFIs nationwide.
Along with reviving the Paycheck Protection Program, the COVID-19 aid bill that Congress is expected to vote on today would provide additional funding for MDIs and CDFIs.
Cos Cob-based Members Credit Union will use a grant from the Treasury Department’s Community Development Financial Institutions (CDFI) Fund to install an ATM in an area of Stamford convenient for the credit union’s immigrant members.
Capital for Change, a Wallingford-based community development financial institution, has received a $650,000 grant from a U.S. Department of the Treasury program that supports CDFIs nationwide.
The Senate Appropriations Committee Monday released the chairman’s draft on the fiscal year 2018 financial services and general government appropriations bill, including full funding for the Community Development Financial Institutions Fund, which oversees the New Markets Tax Credit Program.
