Congresswoman Nydia M. Velázquez on Thursday announced that the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded $76.32 million in Technical Assistance (TA) grants to 256 organizations across the country.
Among the recipients is the Brooklyn Cooperative Federal Credit Union, which will receive $1million to enhance its capacity and better support working families and small businesses in New York’s 7th Congressional District, according to a press release.
“As the top Democrat on the House Small Business Committee, and senior member of the Financial Services Committee, I have worked closely with the Biden administration to empower CDFIs and increase access to capital for underserved communities,” said Velázquez. “That’s why I am thrilled that Brooklyn Cooperative Federal Credit Union has been awarded over $1 million in technical assistance funding from the CDFI Fund. This funding will empower them to expand their capacity, improve services, and uplift working families and small businesses across Brooklyn.”
The awards aim to strengthen financial institutions serving economically disadvantaged areas, part of a broader effort to address systemic inequities in access to financial resources.
