GoWest CDFI Credit Unions Awarded $9.775 Million in U.S. Treasury Financial Assistance Awards

Posted by Alyse Knudsen on October 1, 2024

On Sept. 26, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 357 Community Development Financial Institutions (CDFIs) with $408.2 million in Financial Assistance (FA) awards to provide financial services and products for low-income and underserved individuals and communities across the country. Of the 135 credit unions that received awards, 12 are GoWest member credit unions, collectively receiving $9,775,000 in award funds. 

According to the U.S. Department of Treasury, CDFIs use FA awards to meet goals such as: expanding operations into a new investment area or areas; serving a new targeted population or populations; providing new products or services; or increasing volume of products or services. Financial Assistance awards have resulted in business creation and growth, new jobs, affordable housing development and increased homeownership, and increased financial services for individuals and communities in need across the country.  

“CDFI credit unions play such an important role in helping economically disadvantaged communities in the GoWest region,” shared Nayab Abbasi, GoWest’s Foundation Strategic Initiatives Manager. “These Financial Assistance awards will allow the credit unions to further invest in their communities, making an even greater impact on their members’ financial lives. I am excited to see what new programs are developed and implemented using these funds.”

Congratulations to GoWest member credit unions! 

Central Willamette Credit Union (OR)
Connections Credit Union (ID)
Consolidated Federal Credit Union (OR)
Great NorthWest Federal Credit Union (WA)
Kitsap Credit Union (WA)
Pinal County Federal Credit Union (AZ)
Pyramid Federal Credit Union (AZ)
Rivermark Credit Union (OR)
Rogue Credit Union (OR)
Seattle Credit Union (WA)
Vantage West Credit Union (AZ)
Verity Credit Union (WA) 

“We are grateful for the CDFI’s investment in our credit union with our recently awarded grant and eagerly look forward to helping even more of our members and small businesses to make Pinal County an even better place to live,” said Stephanie Cave, Pinal County Federal Credit Union’s Vice President of Marketing. “Our credit union especially looks forward to assisting women and minority-owned small businesses gain access to the lending resources they need to be successful.” 

“Great NorthWest FCU is proud to be a CDFI designated credit union. These grant funds are very important for us and our community,” shared Doug Page, President and CEO of Great NorthWest Federal Credit Union. “These funds will allow us to expand our portfolio and assist even more members with loans that we would otherwise be unable. Our membership base has been through a lot with rises and falls in our economy. The recent economic challenges have put more strain on pocketbooks than ever before. We are excited to put these funds to use and bridge that gap for those in our community who need it most.” 

Read more about the CDFI Financial Assistance awards here. 

Posted in Arizona, Community Impact, Idaho, Oregon, Regional Member News, Top Headlines, Washington.