Community Development Banks Receive Awards
August 7, 2012 by UPI - United Press International, Inc.
WASHINGTON, (UPI) — The U.S. Treasury Department announced Monday more than $186 million in awards were made to 210 organizations serving low-income communities.
The awards, provided through two programs, are the largest single announcement of award monies and recipients in the Community Development Financial Institutions Fund’s history, the Treasury Department said in a release.
The two programs — Community Development Financial Institutions Program and the Native American CDFI Assistance Program — provide awards to certified and emerging community development financial institutions specializing in helping low-income and distressed communities, the department said.
CDFI Fund Director Donna Gambrell said the awards will benefit a many Americans by increasing “the capacity of CDFIs serving low-income and Native communities across the country. This year’s awardees will continue to provide vital financial services in low-income areas that are typically overlooked by traditional lenders, bettering the lives of Americans nationwide.”