Sixteen New York credit unions have received grants totaling more than $23 million in the first round of the CDFI Rapid Response Grant program, according to an analysis by Inclusiv, a New York Credit Union Association strategic partner.  

The CDFI Rapid Response Program has $1.25 billion in funds to award to CDFIs to deliver immediate assistance in communities impacted by the COVID-19 pandemic through a streamlined application and review process. The Financial Assistance and Technical Assistance grants have $188 million in funds to award to CDFIs to build financial capacity.

Although deadlines to apply for grants in 2021 have passed, more information about becoming a CDFI-certified credit union is available on the Inclusiv website.