Credit Unions Gather in Portland to Learn About Inclusiv’s $1.87 Billion Green Lending Program

August 21, 2024

GoWest was the first stop on a tour from Inclusiv to spread the word about ways that credit unions can access grant funding through the $1.87 billion grant award they recently received through the EPA’s Greenhouse Gas Reduction Fund (GGRF). More than 25 credit unions and community partners came together to discuss the program, pathways to funding, and learn from one another. 

The GGRF is a once-in-a-lifetime opportunity for credit unions to bring benefits of solar, electrification, energy efficiency, and other clean energy technologies to their communities and members. Credit unions across the country will receive grant funding and technical assistance from Inclusiv through this EPA program. 

During the Portland summit, Neda Arabshahi, Senior Vice President for the Inclusiv Center for Resiliency and Clean Energy, discussed this opportunity, including the opportunities for credit unions to enter the green lending space, to create partnerships in the community, and to support low-income and disadvantaged communities through the grant program. 

Arabshahi also laid out a timeline and pathway for credit unions interested in obtaining grant funds, noting that there are two distinct channels for credit unions to get involved, depending on whether they currently operate as a green lender or are just getting started. 

Pablo DeFilippi, Executive Vice President of the Inclusiv Network, encouraged all credit unions to get involved, noting that they do not need to be CDFI-certified, Low-Income designated, or Inclusiv members to apply for funding. 

Grants will be available to support four types of credit union-led initiatives:  

1. Creating new or growing existing green loan products 
2. Utilizing grants to provide financial assistance 
3. Utilizing grants to build capacity for green loan programs 
4. 100% of funds must support low-income and disadvantaged (LIDACs) 

DeFilippi and Arabshahi shared that Inclusiv staff will be available to help credit unions navigate the grant process. They emphasized that credit unions do not need to utilize consultants to create their initial grant applications and should first exhaust Inclusiv resources.  

At the summit, a panel of credit union leaders, including Damian Alarcon, Director of Government Relations & Social Impact at Calif.-based Travis Credit Union, Natasha Rivers, Sustainability & Measurement Director at Wash.-based BECU, and Paul Herendeen, Director of Impact Market Development at Mont.-based Clearwater Credit Union discussed how their organizations approach products related to sustainability and green lending.  

Grant applications will open in late 2024 or early 2025. GoWest will continue to work with Inclusiv to share the latest updates and educational information with credit unions.  

Interested in learning more? Follow this link to be added to Inclusiv’s mailing list for updates.  

Posted in Community Impact, Regional Member News, Top Headlines.