The U.S. Department of the Treasury's Community Development Financial Institutions Fund awarded $76.32 million in Technical Assistance grants, including $1 million to Brooklyn Cooperative Federal Credit Union.
Congresswoman Nydia M. Velázquez stated that the funding will empower Brooklyn Cooperative Federal Credit Union to expand its capacity and better support working families and small businesses.
The awards are designed to strengthen financial institutions in economically disadvantaged areas, addressing systemic inequities in access to financial resources.
Velázquez emphasized her efforts with the Biden administration to empower CDFIs, highlighting the importance of increased access to capital for underserved communities.
#financial-assistance #community-development #cdfi #economic-empowerment #congresswoman-velaacutezquez
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